Does AuditExchange really enable Continuous Monitoring ? St Louis ACL Users Group David Dempsey

1. Does AuditExchange really enable Continuous Monitoring ? St Louis ACL Users Group David Dempsey Enterprise Account Manager: Missouri, Michigan, Indiana April 14 2010

2. Agenda • Continuous Monitoring versus Continuous Auditing • AuditExchange 2.0 • How does AuditExchange Facilitate Continuous Monitoring ? • Questions

3. Continuous Auditing • Continuous Auditing - Audit Department’s Responsibility Continuous auditing is traditionally the audit processes involving a cyclical auditing approach.

4. 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.

5. 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 Officer ACL AuditExchange 2.0 Beta Customer

6. AuditExchange 2.0 • A brief overview

7. Exceptions distributed via web-based viewer Apply proven analytics • Centralized Audit Management • Engagement & Content Management • Automation • Analytic Processing SQL ACL Enterprise Data ERP Manage All Types of Audit Content Audio Excel Word Projects Analytics Business Stakeholders PowerPoint D/B Interface Connections from AX Core Results Data PDF Crystal Reports ACL Specialist Audit Leadership or Non ACL Users or Management in Other Departments

8. End-to-end data analysis. From data access to exception management. Enterprise Data Sources Centralized Server

9. Business Stakeholders • Exception reports for everyone through a web browser. Accounts Payable AX Core Purchasing Payroll Accounting Accounts Receivable

10. 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