Continuous Controls Auditing (CCA) Using ACL

ACL Robotics is a data analysis tool within the HighBond software platform.  ACL stands for Audit Command Language, and ACL Robotics  helps auditors perform analysis and audit tests on 100% of the available data rather than merely sampling the data. The ability to audit 100% of the available data assists auditors with identifying potential fraud patterns and data irregularities.  Audit and Compliance Services uses this software functionality in its Continuous Controls Auditing (CCA) tests.

CCA is an on-going effort to detect controls issues in an organization. Internal controls are designed and implemented by management to prevent fraud, promote regulatory compliance and ensure an acceptable level of business risk is not exceeded. At times these controls may become weak or inefficient. The CCA process relies on a combination of software usage and manual steps to detect weak or inefficient internal controls.

Audit and Compliance Services adds value to the organization by developing continuous controls audit tests and evaluating the results. When control deficiencies are discovered they are addressed with appropriate departmental personnel for resolution. This promotes cooperation between departments outside the setting of a traditional audit and increases the dependability of internal controls for assessment and reporting purposes.

Scheduled Audit Tests

Audit and Compliance Services has several controls tests that are performed automatically on a monthly basis. They include:

1. Potential Duplicate Payments by Accounts Payable
2. Potential Scheduled Payments (unauthorized)
3. Representational expenditures with inappropriate funding sources
4. Gifts Exceeding $25 Threshold
5. Potential Duplicate Payroll Checks
6. Terminated Employees on the Payroll
7. Phantom Employees
8. Excessive Overtime
9. Potentially Prohibited Credit Card Transactions
10. Potentially Miscoded Credit Card Transactions
11. Transactions Associated with Excluded Merchant Types
12. Purchases that Exceed a Credit Card Holder’s Single Purchase Limit
13. Credit Card Holders with High Dollar Volumes of Purchase Activity
14. Credit Card Transactions on Holidays