KKP 1 ( KUIS 7 )
- Read about ACL’s solution for data quality and fraud detection. How might an auditor use ACL’s data analytics software for these two purposes?
For data quality:
ACL give solution to allow audit teams to work more productively and efficiently by enabling direct immediate access to all of the source data required for audit analysis and by harnessing the power of server technology to rapidly analyze limitless volumes of any type of transactional data.
While for the fraud detection:
ACL helps auditors to have a quick analyze complete data populations, instead of pulling random samples or relying on those all-too-rare hotline calls, you can actively target specific data patterns, activities and exceptions that uncover fraud.
ACL technology helps detect and prevent fraud by allowing organizations to:
- Test 100 percent of transactions
- Quickly access data from any source
- Flag all suspicious activity
- Automate testing to free up resources for more strategic investigations
- Summarize fraud risks for management review
- How might ACL be used by a company to comply with the requirements related to internal control over financial reporting? Hint: Take a look at ACL’s Continuous Controls Monitoring software.
ACL is providing the continuous monitoring that can be used for the business owner or the management to ensure the internal control related to business activities and financial reporting. By providing perpetual assessment of key controls and insight into transactions, continuous monitoring can help organizations quickly identify issues that significantly impact the bottom line.
Here are another continuous monitoring product that provided by ACL: