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VANCOUVER, British Columbia,
April 18, 2013 /PRNewswire/ --
ACL, the company that is transforming audit and risk, today announced its 15
th Annual Impact Award Winners. This premier technology award for audit, finance, compliance and risk professionals celebrates the outstanding achievements of customers that have made a significant, positive impact on business processes and operations through the use of ACL technology. The winners, comprised of 10 companies around the globe spanning various industries, include The Coca Cola Company, the Public Services Management Department of
Zambia, the Office of the Comptroller of
Puerto Rico, and Grand Prize winner, Phillips 66 (NYSE: PSX), which is one of the world's largest oil and gas refining companies.
Fortune 500 company Phillips 66 used ACL data analytics technology to create an Employee Expense Report Monitoring System for its team of approximately 14,000 employees worldwide, establishing a continuous auditing process to identify travel and procurement policy violations, mistakes and instances of fraud before such abuse could negatively impact the business. The system identifies anomalies such as company credit card purchases that occurred when an employee was absent from work, purchases made with suspicious merchants, transactions by former employees, and cash advances that were not fully expensed. Monthly reports showing violations of policy, which can now be produced for management, are used by the Compliance, Global Security, Audit and Controllers departments.
"As a direct result of the implementation of this new system, over
US$3 million of transactions were identified as having some violation of policy," said
Richard Twilley, Analyst, Commercial Card Services at
Phillips 66. "We've experienced a 50% increase in accuracy, 1000% increase in efficiency, and a 500% increase in productivity."
"It's amazing to see the innovative ways in which audit, finance, compliance and risk professionals are integrating ACL's solutions to positively impact their organizations," said
Laurie Schultz, President and CEO of
ACL. "We want to thank all who entered, as your stories have truly been inspiring."
This year's ACL Impact Award winners are:
Grand Prize Winner: Richard Twilley, Phillips 66
Regional Award, North America: Sean Pinto, The Coca Cola Company
Regional Award, Latin America and Caribbean: Francisco Ortiz, Office of the Comptroller of Puerto Rico
Regional Award, Europe, Middle East and Africa: Siame Matthews, Public Services Management Department of Zambia
Best Use of Analytics: Desolyn Foy and Christina Ervin, Harris Health Systems
Best Use of Audit Management Technology: Lisa Traina, Traina and Associates
Best Application of Continuous Auditing or Monitoring: Enrique Vazquez Escobar, Nacional Monte de Piedad IAP
Most Promising New User: Eduardo Staino, Construtora Andrade Gutierrez SA
Most Innovative Use: Michel Picinin, Suzano Papel e Celulose SA
The Impact Awards winners will be honored at the annual customer conference,
ACL Connections 2013, taking place April 28–30 at the Hyatt Regency in
Harald Will, Executive Chair, Board of
ACL will present the awards during a luncheon ceremony on
Tuesday, April 30.
ACL delivers technology solutions that are transforming audit and risk management. Through a combination of software and expert content, ACL enables powerful internal controls that identify and mitigate risk, protect profits, and accelerate performance.