Deloitte Partner Examines the State of the New Chief Audit Executive

October 14, 2010

Tools

New Whitepaper Sponsored by ACL Services Underscores the Strategic Value of Continuous Audit

VANCOUVER, British Columbia--(BUSINESS WIRE)-- A new whitepaper from Deloitte & Touche LLP titled, The New Chief Audit Executive: Leadership in the Risk Intelligent Organization, explores the emerging role of the chief audit executive (CAE) and internal audit functions toward providing strategic and central value to risk management. The whitepaper is sponsored by ACL Services Ltd., the leading provider of business assurance technology for audit and compliance professionals, as part of ACL’s ongoing commitment to providing value-added guidance to the audit, finance, compliance and business management communities.

In the paper, Shayne Gregg, partner with Deloitte’s Enterprise Risk practice, examines the economic and regulatory forces that are affecting the transformation of internal audit functions and asserts that, as a result, internal audit’s ultimate value will be determined by strategic contributions to risk intelligence, not on executing the annual audit plan.

“Recent corporate scandals, the ensuing worldwide regulatory response and recovery from the global financial crisis exert new pressures on chief audit executives and their internal audit functions,” writes Gregg. “Successfully addressing these demands requires a combination of leadership, processes and tools including, most prominently, a stronger role in boosting the organization’s overall risk management capabilities as well as greater use of automation and analytics such as continuous auditing.”

Additionally, the whitepaper provides guidance on the types of risk management skills now required for CAEs; tips for determining the CAE’s risk IQ; and the benefits of automating audit processes and using analytics to deliver greater efficiency and effectiveness for business assurance.

“We at ACL agree with Deloitte’s assessment of the emerging role of the CAE as strategic partner to the business management team and audit committee,” said John Verver, CA, CMC, CISA, vice president of services & product strategy at ACL Services. “When internal audit makes greater use of automation, analytics and continuous auditing, it demonstrates its value as a highly effective and highly efficient contributor to the company’s overall risk management program and bottom line.”

The whitepaper and other resources are available for download at www.caesummit.com.

About ACL Services Ltd.

ACL Services Ltd. is the leading global provider of business assurance technology for audit and compliance professionals. Combining market-leading audit analytics software with centralized content management and exception reporting, ACL technology provides a complete end-to-end business assurance platform that is flexible and scalable to meet the needs of any organization.

Since 1987, ACL technology has helped organizations reduce risk, detect fraud, enhance profitability, and improve business performance. ACL delivers its solutions to 14,000 organizations in over 150 countries through a global network of ACL offices and channel partners. Our customers include 95 percent of Fortune 100 companies, 85 percent of the Fortune 500 and over two-thirds of the Global 500, as well as hundreds of national, state, and local governments, and the Big Four public accounting firms.
www.acl.com

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