VANCOUVER, British Columbia - (Business Wire) A new study from the Center of Continuous Audit at Rutgers University Business School demonstrates that continuous monitoring technology from ACL Services can help strengthen internal controls and deliver insight to reduce fraud and errors related to financial transactions. Talecris Biotherapeutics Inc. (Nasdaq:TLCR) has safeguarded millions of dollars by using continuous monitoring to test and improve business processes and controls underlying cash management processes for Talecris’ plasma collection centers and manufacturing units across the United States. ACL is the leading provider of business assurance technology for audit and compliance professionals. “Talecris has demonstrated that the close examination of business transactions underlying financial reporting uncovers unforeseen risks and potential control breaches,” said Miklos A. Vasarhelyi, PhD, director of research at the CarLab (Continuous Audit and Reporting Laboratory) of the Rutgers Accounting Research Center. “Talecris’ successful implementation of continuous controls monitoring from ACL is an excellent example of how audit technology can deliver critical insight that helps organizations mitigate risks, optimize business operations and assure compliance in today’s real-time economy.”
Talecris Biotherapeutics Inc. is a global biotherapeutic and biotechnology company that discovers, develops and produces critical care treatments for people with life-threatening disorders in a variety of therapeutic areas. The internal audit department at Talecris recently embarked on a 12-month project to improve internal controls as the company prepared to go public. The Rutgers study examines Talecris’ use of ACL technology to analyze six key areas: Purchase to Payment; Purchasing Card; Travel and Entertainment; General Ledger; Payroll; and Order to Cash.
The case study will be presented at the 19th annual World Continuous Audit and Reporting Symposium at Rutgers University on November 6 by Anthony Chalker, managing director at Protiviti, a leading global business consulting and internal audit firm that worked with Talecris to provide an integrated, risk-based audit plan. In addition, Chalker will demonstrate how to apply continuous monitoring technology like ACL to save audit costs while increasing visibility into areas of high operational risk.
John Verver, vice president of services and product strategy at ACL Services, will also share examples from the case study during his presentation at the Symposium on the topic of next-generation continuous auditing and monitoring technology.
“This Rutgers report validates ACL’s continuous monitoring approach and proves the value of the technology to internal audit and businesses as a whole,” commented Verver. “Audit teams like Talecris can ensure insight into controls, empowering them to work with other areas of the business to strengthen risk and control processes and remediate exceptions.”
The Rutgers study on the continuous controls monitoring program at Talecris is available for download at www.acl.com/rutgersstudy
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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ACL Services Ltd.
Beth Hardy, Manager Corporate Marketing, +1-604-974-1425
beth_hardy@acl.com
