Post on 26-Mar-2015
Technology for Business Assurance
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Does AuditExchange really enable Continuous Monitoring ?St Louis ACL Users Group
David Dempsey Enterprise Account Manager: Missouri, Michigan, Indiana
April 14 2010
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Agenda
Continuous Monitoring versus Continuous Auditing AuditExchange 2.0 How does AuditExchange Facilitate Continuous Monitoring ? Questions
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Continuous Auditing
Continuous Auditing - Audit Department’s Responsibility
Continuous auditing is traditionally the audit processes involving a cyclical auditing approach.
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Continuous Monitoring
Continuous Monitoring – Business Line’s Responsibility
Continuous Monitoring is the method that a business process owner or management uses to ensure that internal controls related to
business activities and financial reporting are working as intended.
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Audit Exchange 2.0, with the AX Exception component,has improved our controls monitoring across the business. We have
automated both audit testing and distributing the results for appropriate follow up. It now runs seamlessly and we have an audit trail that
confirms exceptions are reviewed and dealt with. This is a much better alternative to sending audit reports with attachments, to people who may or may not answer, and then manually cutting and pasting audit
feedback back into audit reports.
Tom Boyle, District Audit OfficerACL AuditExchange 2.0 Beta Customer
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AuditExchange 2.0
A brief overview
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ACL
D/B Interface Connectionsfrom AX Core
Enterprise Data
Enterprise Data
Exceptions distributed via web-based viewer
Apply proven
analytics
Audit Leadership or Non ACL Users or Management in Other
Departments
ACL Specialist
SQL
ERP
Business Stakeholders
Centralized Audit Management
• Engagement & Content Management• Automation
• Analytic ProcessingManage All Types of Audit Content
ProjectsAnalyticsData
Excel Word
Crystal Reports
Audio
PowerPoint
Results
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End-to-end data analysis. From data access to exception management.
Enterprise Data
Sources
Enterprise Data
Sources
Centralized Server
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Business Business StakeholdersStakeholders
Accounts Payable
Purchasing
Accounts Receivable
Payroll
Accounting
AX Core
•Exception reports for everyone through a web browser.
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Exception Management – Continuous Monitoring
•Automatically distribute, manage and track exceptions•Help reduce the negative impact of exceptions on the business•Enhance the value you deliver
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