Audit software like ACL can help audit departments enhance value to the business by achieving greater audit coverage, automating analysis for greater efficiency, and managing exceptions for effective review and reporting. ACL accesses data from any source, automates recurring analytics to free up auditors, and passes exceptions to stakeholders to identify and resolve issues faster through a central exception management component. The software can help implement a comprehensive audit solution covering areas like purchases, inventories, employees, cash, assets, revenues, and risks.

1. COMPREHENSIVE AUDIT, GOVERNANCE & CONTINUOUS CONTROLS – THROUGH AUDIT
SOFTWARE AND CONTROL SOLUTIONS
The practice of Internal Audit has undergone significant changes, globally. Internal Auditors
are now considered as vital business partners, who guide the management in taking the
decisions, while assuring that Business is run with adequate controls and corporate
objectives. With Audit Software like ACL, IDEA, TOPCAATS; Audit department can start
getting returns with least of efforts and investment of minimum time, which leads to
enhancing their audit coverage to almost 100% and can do much more with their audit
resources. Thus the Audit department is able to enhance the value delivery to the business
significantly.
To illustrate, audit Software ACL achieves this through the underlining principles and frame
work:
Data Access for Greater Audit Coverage
Insufficient data access has long stood as a barrier for audit teams in gaining full insight into
their organization’s operations. The AuditExchange 2 platform can access data from virtually
any data source allowing for testing of 100% of transactions and safeguard all audit content.
In support of continuous auditing and monitoring, recurring data feeds can be automated to
ensure the most up-to-date data is available for analysis in the central repository.
Automate Analysis for Greater Efficiency
Leverage technology to enable a more efficient team. Using the built-in AX™Core scheduler,
automating analytics is as simple as scheduling a meeting. Analysis that previously had to be
done repetitively on a manual basis is now done automatically freeing up auditors to focus
on other value-based audit tasks. Users can manage the frequency, timing and parameters
of each analytic, as well as have an overall view of all analytics that have run or are
scheduled to run in the future. The standardization and repeatability of each analytic is
ensured through their central storage. Results can easily be viewed and shared amongst the
team providing greater overall insight into key risk areas
Exception Management for Effective Review, Reporting and Monitoring
For audit teams seeking to deliver timely value to their organizations, ACL’s business
assurance solution can be extended with new exception management component - AX™
Exception. Exceptions found by audit are automatically passed to the business stakeholders
responsible for determining the cause, and correcting the control exception. Organizations
can now further leverage the data analysis work being done by audit teams in order to
identify and resolve exceptions faster and more efficiently, reducing their negative impact
on the business.
Audit Software can help your Audit Department in implementing this comprehensive Audit
Solution as per the requirements of your organization. To give you a flavour, we give below
an illustrative checklist; this Audit Software Solution can cover and deliver effectively:
1. Purchases and Payables
1.1 Purchases of Goods and Services
1.2 Payments for Goods and Services
1.3 Accounts Payable

2. 2. Inventories
3. Employees related
4. Cash & Bank
5. Assets – including productive ytilization
6. Revenues and Receivables
7. Other Liabilities.
8. Cost Control, Budgetary Controls
9. Profitability and under- recoveries
10. Systems Audit and ERP Controls
11. Risks and Fraud Controls and other preventive controls Issues
 Identification of Data Integrity issues
 Proactive Fraud Vulnerability Issues
 Fraud and Controls Deviation Detection
 Exception Reporting and Analytics enabling continuous monitoring and corrective
actions