We're thrilled to introduce the launch of ACL Workpapers for iOS, the first native mobile full-featured audit management app. ACL Workpapers for iOS is now available as a free download from the iTunes App Store.

"ACL Workpapers for iOS represents the first step toward changing the way audit professionals are able to perform in today's increasingly mobile world," said Dan Zitting, Vice President of Working Papers Software for ACL. "Chief Audit Executives can now literally put their audit management system in their pocket, check on their team’s progress, troubleshoot issues, and run reports on the go."

ACL Workpapers for iOS is an extension of ACL Workpapers, a cloud-based audit management system built to help audit teams and corporate audit departments effectively manage their audits from beginning to end. ACL Workpapers was developed by auditors in actual audit practice and is designed to increase productivity by organizing fieldwork documentation, automating project management, enabling collaboration, and reporting results. Thousands of auditors around the world use ACL Workpapers to build and monitor audit projects of all types, whether financial, operational, compliance or technical.

ACL Workpapers for iOS is compatible with iPhone, iPad, and iPod Touch and requires iOS 4.0 or later. To download the app, go to the App Store. Native extension for iPad and an Android app are presently under development, and are expected to be ready for release this summer.

“This app fills an important void in the market by providing a simple and elegant solution,” said Sergiu Cernautan CPA, CISA, an independent consultant and principal of Vancouver-based Straight Talk Consulting Solutions. “One of the key features that stands out from the rest is the portability and the flexibility it provides to manage consulting or audit projects from various devices while on the go. Now, I will be able to use my iPhone or iPad to update a conclusion to a work step, assign a task to a team member, and instantly access a status report while I’m in a meeting. I can also upload a picture of a document as audit evidence without having to use a scanner while I am in an interview and not at my computer.”

“Auditors in the field can upload photos, documents or even request additional information direct from their iPhones; users can instantaneously respond to requests; and busy managers can identify and address problems from anywhere,” added Zitting.

Related Resources:

Straight Talk Consulting Solutions Case Study

ACL's Peter Millar and Steve Biskie hosted a 60-minute webinar yesterday on the 5 Best Practices of World-Class Audit Shops. Peter and Steve have spent many years working closely with audit departments of all sizes who add incredible value to their organizations and have seen the following themes emerge:

World-Class audit teams:

1. Have a shared goal that they work together to achieve
2. Develop plans for success, and track progress towards their goal
3. Think beyond the immediate need to work smarter, not harder
4. Create raving fans from key stakeholders
5. Anticipate obstacles and fight to overcome them

View Presentation
Watch Recording

Attendees posed a number of interesting questions at the conclusion of the webinar, including this one from Zaid:

Could you share some examples of metrics used by audit shops to measure performance?

We figured this response from Steve was definitely worth sharing on the blog:

The metrics an organization uses to measure success largely depends on their strategy, which can vary widely. 

An organization that wants to use analytics to provide better coverage (e.g. 100% testing instead of sampling), will often measure coverage-related items like % of transactions flowing through particular accounts that have been analyzed (particularly interesting when compared to that same % in a sampling approach), # or % of key systems where direct data access has been obtained, % of audits or business processes with a semi-robust set of tests.

An organization that wants to use analytics to improve audit efficiencies will often track things like the time it takes to do audits.  This one can be a bit trickier to measure as the first time you audit using analytics there is some one-time effort that needs to be considered (access and understanding data, for example), but that doesn’t need to be a recurring effort if the process has been automated.  The other consideration when measuring efficiencies is that it may be useful to break the audit time down into specific components and measure the delta against those, instead of looking at the aggregate amount of time to perform an audit.  For example, organizations that do analytics well may actually find that their audit planning time increases slightly (primarily because analytics are helping them more intelligently determine where to focus), but the testing time decreases dramatically (since a lot is now automatic).  That then can allow more time for analysis and interpretation of results than may have been used in the past.

Organizations where compliance or fraud detection are the primary drivers of analytics would have their own set of metrics customized to those goals.

Other metrics I’ve seen can include things like:
• Speed after which a suspect transition is initiated and detected by the program (often months or years in traditional auditing, and can be down to days or minutes in continuous auditing)
• % of audit steps using data analytics
• % of audit findings where data analytics was a contributing factor
• # of analytic ‘prototypes’ that have been shared with the business and have now transitioned to a business-oriented continuous monitoring area

Related Resources:

Steve Biskie on Risk and Analytics

In a previous article, we looked at how internal audit's knowledge of data analysis technology could help the business to identify financial control risks, compliance failures and problems in business transactions. The vision for an increasing number of organizations is for the ongoing testing of entire sets of financial transactions against a comprehensive range of controls and compliance requirements.

The objective is not to inundate business and financial managers with masses of data on exceptions for investigation, but rather to provide valuable insights into trends and areas where control issues are becoming of significant concern – as well as to highlight high risk transactions and specific instances of fraud, error and abuse that need to be addressed.

While internal audit is often the initiator in developing these capabilities as part of a process to improve the efficiency and effectiveness of the audit process, it is not the responsibility of auditors to monitor business processes and transactions. Business management is responsible for managing risks and for the effectiveness of internal control mechanisms, but they seldom have experience in using data analysis technology to support them in this process. In organizations where internal audit has demonstrated the value of continuous auditing techniques, much of the groundwork has often already been performed and it can be a relatively straightforward process for management to take over the responsibility for performing continuous monitoring techniques.

The term "continuous monitoring" was rarely used by business finance managers prior to Sarbanes-Oxley. The concept of continuous controls monitoring arose, in the finance arena at least, primarily as a response to SOX shining a spotlight on management's responsibility for financial controls. Since then, there has been debate as to whether the objective is to directly test controls or transactions themselves, as well as to the meaning of "continuous." For an increasing number of organizations, the outcome of this debate has become quite clear and can be expressed as follows:

There is value in regularly testing financial transactions in order to:

• help ensure that effective control systems are in place;
• identify suspect and high-risk transactions on a timely basis;
• detect trends of changing financial control risks

To read the rest of John's article in BusinessFinance, click here.

You never know who you'll cross paths with on Twitter. Colleen Cross, a Vancouver-based Accountant and writer started following @aclservices recently and we thought her twitter writeup was rather fascinating... After exchanging a few emails with us, she dropped by the ACL office with some signed copies of her intriguing new book, Exit Strategy.

Exit Strategy is the first book in a series starring a forensic accountant named Katrina Carter. In Colleen's words, "the idea for the series started with a simple question: 'What if?' What if someone wanted to pass off African blood diamonds as Canadian conflict-free diamonds? How would they do it? What if that someone was a mafia kingpin? I've always been fascinated by what makes people cheat, steal, lie and murder. Because people like me are going to catch them, sooner or later. That's what fraud investigators and forensic accountants do."

Naturally, we had a lot of questions for Colleen and where her ideas come from. She was happy to answer a few of these for the ACL Blog readers...


Tell us a bit about your background.

I’m an accountant with many years experience as a finance executive and consultant. I’ve had an interesting career—after starting out as a graphic artist I switched to finance, and have worked in many different sectors from manufacturing to financial services to government.  I’m also an avid reader. The idea of writing about “creative accounting” came naturally to me.

What made you start writing fiction?

I have a vivid imagination and always ask the question – “what if…” As a result, I’m always thinking up story ideas in my head. Since I love to read, the idea of writing a book challenged and interested me at the same time. 

I am intrigued by fraud and the motivations behind it. There are a fair number of non-fiction fraud books; however, most are tailored to accountants or other fraud professionals.  They tend to be a bit too technical or dry for the average reader.  

While there is fiction out there with a fraud element, it is usually secondary to the story. I wanted to write stories about fraud itself. The motivations behind the crimes are often fascinating glimpses of human nature, and numbers are often the key to solving many crimes.   

What is Exit Strategy and the rest of the series about?

Exit Strategy is an international tale of blood diamonds, money laundering, and murder. Kat Carter uncovers a massive money-laundering scheme, just as two key insiders are murdered. She is framed for the murders as she uncovers a link to organized crime. She’s on the hit list—unless she allows the real criminals to walk free.  

I’m currently working on book two in the series, Game Theory.  Kat’s fraud investigation at a currency hedge fund takes a sinister turn when she discovers a connection to the mysterious World Institute. Fraud also hits closer to home when her uncle’s dementia spirals out of control. Game Theory is about how the world really works, and how some people’s choices come at a high cost to others.   

I have ideas for at least three more books in the series, so stay tuned.

What was your inspiration for Kat Carter?

Kat is a bit of an underdog, and she sometimes uses unorthodox methods to do the right thing.  She relies on her own moral code rather than the letter of the law.  Kat likes to see justice prevail, no matter how rich and powerful the villains may be. While Kat may be a fraud investigator, I think she really identifies with corporate whistleblowers. They are both individuals risking their careers and livelihoods on the line to expose fraud.  People who speak up and take a stand against wrongdoing always inspire me.

What makes Forensic Accounting so interesting?

Forensic accounting is interesting because numbers don’t lie. The paper trail is one crime scene most people know little or nothing about.  Following the money almost always leads to the perpetrator of the crime, often with intrigue and danger along the way.

Kathy Reichs made forensic anthropology exciting to read about. I hope to do the same with the Katerina Carter series, by providing insight into forensic accounting and fraud. 

My goal is to educate people about forensic accounting and fraud in a very entertaining way.  To non-accountants, the idea that forensic accounting and suspense thrillers tie together may seem bizarre. But, think about it—money is at the root of the vast majority of murders and other major crimes.

Colleen Cross is the author of Exit Strategy, book one in the Katerina Carter fraud thriller series. Exit Strategy is available in paperbook and ebook at Amazon, Barnes & Noble, Kobo, and everywhere books are sold.  GameTheory will be released Fall 2012.

ColleenCross.com

From John Verver, Vice President of Services and Product Strategy, ACL Services

The IIA's General Audit Management conference held in sunny Orlando brought together well over 1,000 senior audit practitioners. GAM is proving to be one of the most valuable forums in which to feel the pulse of the internal audit profession.  As has become commonplace during the past few years, two central themes centered around risk management and the role of technology in internal audit.

What I found very interesting this year was the stage that was set by one of the first keynote speakers, Thomas Frey, a futurist who described 8 areas in which technology changes will be so dramatic in the coming years that they will fundamentally change the way businesses function and people lead their lives. The examples included technology innovations that will transform transportation, manufacturing, knowledge sharing and communications. His message was in part that you need to be careful about strategic planning and risk management as things will change so quickly that many current plans and risks will likely become irrelevant.

Later in the day I attended a session in which attendees were asked about the extent to which they considered technology is being used effectively in the audit process. The response was overwhelmingly that technology is not yet being used anywhere close to its full potential.

What I found particularly concerning was that this response was based on usage of existing technology to audit existing business processes. So, if audit is already this lagging in their use of technology then what are the chances that auditors can keep up with the dramatic changes that are likely to occur tomorrow?

Another session addressed some of the critical success factors for effective use of technology. I was glad to see that these included tone at the top and making technology use a strategic priority. If the CAE is not clearly driving an overall audit technology strategy - or at least empowering someone else to do so - it is hard to see how transformational change can occur.

An excerpt from BusinessFinance:

By Steve Biskie, Customer Solutions Director, ACL Services

As the business management landscape shifts from a focus on recession survival tactics to growth strategies for economic recovery, the roles of internal audit and the chief audit executive (CAE) continue to grow.

Risk acumen is at the core of internal audit's transformation. CAEs and their teams are now being asked to expand their more traditional assurance and consulting roles, and apply their business insights and audit expertise in key organization-wide initiatives, particularly those pertaining to fraud and risk management.

Other more traditional risk management roles -- such as navigating the complex regulatory conditions of a post-Sarbanes-Oxley era; taming unruly internal controls and data environments; and working with an increasing audit-savvy team of executive stakeholders -- remain part of internal audit's mandate.

Dramatic examples of the bottom-line benefits audit analytics provide can be found across industries and geographies:

• One large government department has achieved over $20 million in annual savings through an expense approval and monitoring program.
• Another major telecommunications firm increased its annual billings by $750,000 when analytics technology uncovered an invoice generation error that was undercharging hundreds of thousands of customers.
• And to highlight the value of automated data testing, one of the world's largest multinationals now uses data analytics to monitor all purchase-to-pay transactions for over 900 entities on a daily basis.

Steve Biskie, CPA, CITP, CISA, is director of customer solutions with ACL Services Ltd. He has over 15 years experience in information technology audit for public accounting (as a former Deloitte manager), private industry, and with specialized risk management consulting firms. His role at ACL is focused on designing services that enable organizations to achieve best practices in the use of audit analytics. He is also the author of Surviving an SAP Audit (SAP Press, 2010).

To read the rest of Steve's article in BusinessFinanace, click here.

Related Resources:

"Don't Navigate Risky Waters Without Internal Audit" Ebook 

Using Data to Assess Risk in the Hundred Acre Wood

Essar Investments receives Grand Prize for success using ACL solutions to establish a robust assurance process globally

We're pleased to announce that Essar Investments Limited, a multinational conglomerate based in India, is the Grand Prize recipient of the 14th annual ACL Impact Awards. The awards recognize innovative use of ACL solutions to deliver outstanding business value.

With highly diversified operations spanning manufacturing, refining, transportation, utilities and retail in more than 25 countries, Essar faced challenges establishing an assurance process that met widespread government and stakeholder expectations. To achieve management’s objective to initiate end-to-end analysis, Essar implemented an ACL continuous auditing solution with ACL partner AUDITime. The Essar Group Assurance Team can now efficiently process 150GB of data across diverse business units, flagging exceptions for review and further analysis for the US$20 billion organization.

"ACL technology provides seamless access to SAP data and the ability to interact with multiple source systems, efficiently handling very high data volumes," said Umesh Jadhav, Head IT Assurance, Essar Investments Ltd. "Our team's success using ACL Direct Link™ for SAP® ERP supports Essar's ongoing integration of each business unit into our overall portfolio. Our continuous auditing framework enables us to meet management and stakeholders' increasing expectations of comprehensive assurance spanning compliance, IT controls effectiveness, process and operations, and fraud prevention," said Arvind Chopra, Group President – Assurance, Essar Investments Ltd.

To date, the team has embedded 175 audit objectives across all of Essar’s steel companies, plants and geographies, covering Purchase to Pay, Order to Cash, General Ledger, Inventory and Retail. This work has lead to process improvements across these business areas and strengthened data governance.

"We are continually impressed with the ingenuity of the auditors and assurance providers who have applied ACL to make a tangible positive impact at their organizations," said Harald Will, CEO, ACL Services. "ACL is proud of the Impact Award winners for serving as leaders in the internal audit profession with innovative approaches to solving prevailing business challenges using technology."

This year's regional and category Impact Award winners are:

• Regional Award, Asia: Glen Laslett, Metcash Limited (Australia)
• Regional Award, Europe, Middle East and Africa: Glen Winn, UPC Ireland (Ireland)
• Regional Award, Latin America and Caribbean: Maria de los Angeles Novello and Augusto Echeguren, Cia de Alimentos Fargo SA (Argentina)
• Regional Award, North America: Byron Enamorado, Westfield (USA)
• Most Innovative Use Award: Arnold Mendoza, GE Capital Australia and New Zealand (Australia)
• Most Promising Novice Award: David Crotts, Virginia Tech (USA)
• Best Use of Analytics Award: Sanjeev Mishra and Nalin Kumar Srivastava, Government of India (India)
• Audit Productivity Team Award: Goodluck Ogazi, Globacom Nigeria Limited (Nigeria)

Best Application of Continuous Auditing or Monitoring Award: Carlos Eduardo de Oliveira Nogueira, Procter and Gamble (Brazil)

Written by Steve Biskie
Corporate purchasing cards have been steadily gaining popularity over the past several years – and with good reason. Purchasing cards (p-cards) can automate supplier payments, eliminate unnecessary paperwork and trim costs. But, p-cards also come with inherent risks for organizations large and small. Employees can be tempted to abuse p-card program controls and in extreme cases, commit sophisticated, high-level fraud.

Whether you have 50 employees with p-card privileges or 5,000, data analytics offer a powerful way to minimize your organization’s risk exposure and validate internal controls. Analytics support business assurance by providing:

-          Independent control testing
-          100% data review with cross-platform analysis
-          Prompt notification of key exceptions
-          Quantified exposure
-          Both pre-defined and tailored pain-point analysis

Analytics really hit their sweet spot when Audit and business process owners work together to coordinate their efforts ­– achieving compliance, recovering costs, preventing loss, mitigating critical risk areas and providing assurance. And when it comes to p-card programs, analytics are typically designed to cover each of the four major components of the p-card process: managing cards, managing merchants, managing transactions and conducting review and analysis.

Effective analytics might test for invalid employees and duplicate purchase cards using name and address matches, for example. Other key analyses include validating card limit changes, pinpointing blocked merchant categories and key words (such as alcohol, clothing, and casinos), and looking for unusual behavior patterns (such as using cards during weekends and holidays for employees not known to travel). The opportunities are endless, but first, let’s look at data analytics in action.

Streamlined efforts produce big results

Global security and technology firm Lockheed Martin offers a terrific example of developing a coordinated p-card monitoring process. The company recently created a Commercial Card Operations division to maximize its commercial card value proposition and minimize risk. The p-card program covers:

-          90,000 cardholders across multiple continents
-          2.5 million transactions per year
-          4 primary cards – travel, meeting, fleet and purchasing

The Commercial Card Operations division implemented ACL data analytics to create an early warning system that flags suspicious transactions on a near-real-time basis. When unusual transactions occur, cardholders receive a message requesting additional details on a fixed timeline. The analytics achieved full ROI within months and have made a powerful impression on cardholders. As auditors know first-hand, people are far more likely to follow the rules when they know someone is watching.

High-performance, custom analytics

California’s Lawrence Livermore National Laboratory (LLNL) established its p-card program in 1992 to simplify the purchase of low-value goods and services. In 2009, the LLNL had 120 p-card holders who spent $70 million and issued over 50,000 purchase orders. As a federally funded organization, LLNL is subject to federal acquisition regulations and ongoing internal and external audits.

The p-card program is a high-risk business area for LLNL because it involves significant dollar amounts, includes orders placed by people working outside the supply chain management department, and has the highest likelihood of fraud, waste and abuse. The potential for negative publicity is also a top concern.

According to Christa Ormonde, one of two p-card auditors for LLNL, the organization needed a more efficient way to review transactions and validate the effectiveness of the p-card program. Auditors were using judgment-based transaction samples and manually scanning thousands of lines of data. They also lacked a way to identify split orders, suspect suppliers and prohibited purchase items. Review processes were slow, and the team was struggling under a backlog of outstanding audits.

To automate the manual processes, the audit team implemented ACL analytics, which were integrated with the LLNS card management system. The ACL continuous controls monitoring (CCM) solution performs weekly audits of approximately 1,200 posted transactions. The solution also generates a list of transactions flagged for follow-up, based on a series of analytics that target the LLNL’s highest risk areas. All transactions are tested to find:

-          Vendor / p-card holder name matches
-          GSA name and GSA address matches
-          Split orders
-          Even-dollar orders (which often indicate gift card purchases)
-          Reconciliation summaries (to flag inconsistent order & transaction totals)
-          Suspect suppliers (including prohibited categories and providers)
-          Controlled items (using key words such as alcohol, clothing, food)
-          On-site / off-site service guideline violations
-          P-card holder also named as the purchase requester

Boosting efficiency, oversight and internal controls

Just prior to implementing the CCM solution, the LLNL p-card audit team was downsized from four auditors to two, but the automation has enabled them to keep up with their full workload and even outperform previous benchmarks.

With tailored analytics, LLNL auditors have trimmed their complete transaction review time from an average of 24 days down to 19 – and they can immediately target potential problems for further investigation. They can quickly identify problematic cardholders and communicate any issues to the p-card program manager.

With 100 percent data coverage, the auditors are free to focus on higher-risk areas and have the flexibility to create new analytics that address specific pain points. Perhaps the most revealing moment came when LLNL Internal Audit reviewed the p-card program and produced no findings whatsoever. The internal auditors even reduced their sample plan by 80 percent over prior years, thanks to the strength of the p-card analytics.

“The constant oversight we’ve implemented with data analytics keeps p-card holders in check,” says Ormonde. “We’re now able to do more ad-hoc reviews, targeted audits and we’ve eliminated the backlog of outstanding work.”

The case for customization

The nature and type of tests used for p-card analytics can be endless, but the following three issues are common targets during the early stages of program rollout:

1. Transactions made with restricted (or unexpected merchants)
2. Duplicate purchases
3. Suspicious transaction timing or purchase amounts

While each of these issues may initially seem straightforward, the reality is that a one-size-fits-all approach can lead to a false sense of security.  This is where the weaknesses faced by packaged solutions with a standard set of “plug-and-play” tests quickly become apparent.  In fact, the notion of “plug-and-play” with analytics is truly misleading, and can come with serious consequences.  In some cases, the generic nature of these tests lead to so many false-positives that follow-up becomes a chore and legitimate findings become lost in the forest of information.  In other cases, the tests are designed is such a specific manner that “false-negatives,” where problems that should have been detected are not becomes a concern.  In fact, when recently reviewing the tests conducted by three large organizations, we found that in all three cases the test logic being used was so basic that some of the most common scenarios resulting in duplicate payments were being missed.

P-card data analytics should be detailed, robust and highly specific. Customization is key. Focusing on quick, easy tests is a great way to grab that low-hanging fruit, but some of the most valuable tests you can perform are also the most creative.

Take a simple duplicate test, for example. The idea of finding matching totals can be extended to a full range of possibilities, including:

-          same vendor, same amount, same day
-          same vendor, same amount, within a range of days
-          same vendor, similar amount
-          different vendor, same amount
-          same vendor, same reference number
-          different vendor, same reference number

The goal is to continuously refine and expand the scope of your transaction testing. Let’s take splitting transactions as another example. If employees are trying to circumvent a single purchase limit of $1,500, they might make two $1,000 transactions on the same day to purchase a $2,000 item. Or, they might split the $2,000 into one purchase for $1,195 and a second purchase for $805. They could also split the total into two or more transactions with varying amounts over several days – and do it often.

Start small and keep sharpening your analytics

Automating p-card control validations is clearly an effective audit strategy, but a well-designed monitoring program, driven by analytic technology, can provide significant value when applied to business processes across the organization. Analytics can help you find money, increase efficiencies, reduce risk and identify problems before they snowball into crises. Smart data analytics can also provide evidence and support for internal and external audits, while reducing fees.

If you’re eying your p-card program and looking for a concrete plan, the key is start with simple tests that you can continue optimizing for long-term value. Identify just a handful of areas and launch simple, specific analytics – based on pain points, risk areas and top opportunities for improving processes.

Next, be sure to leverage other people’s expertise to get your plan up and running. There are terrific industry associations and user groups out there that can offer a helping hand. ACL Services also has standardized analytics and thousands of tests that can jump-start your efforts (with the expertise and know-how to customize them to your specific situation to maximize value).

Finally, it’s critical to benchmark your work against past experiences. Look at the time it takes to audit transactions, the number and quality of issues you identify, and the risks mitigated. I’ve found that detailed anecdotes will also make it easier to get buy-in from senior management. At the LLNA, the audit team was cut from four people to two, yet the auditors used data analytics to review all the p-card transactions in less time and actually improved their audit performance. Now that’s a compelling story.

What story will you tell?

A recent survey of more than 500 audit and compliance professionals, conducted by ACL Services, provides some interesting insights into how internal auditors see their role within an organization, as well as the role of auditing technology in adding value to an organization.

The traditional role of internal auditors has evolved considerably in recent years. While still being conscious of the responsibility to provide an independent assurance function, the trend is for internal audit to work more closely with the business and to establish greater relevance to what matters most to the organization. Evidence of this is found in internal audit's increasing focus on assessing the effectiveness of an organization's risk management processes, as well as bringing specialized data analysis technology into the audit, fraud detection and compliance arena.

The ACL survey shows that while the vast majority of internal auditors perform some form of data analysis techniques, only 9% of auditors use automated and continuous auditing techniques. However, nearly 70% of auditors consider that "the highest level of desired usage" is continuous monitoring by the business.

To read the rest of John's article in BusinessFinanace and review additional insights from the ACL Survey, click here.

Results are in for the ACL Impact Awards! Now in their 14th year, the Impact Awards are open to ACL users from around the globe, recognizing excellence within a variety of categories. Our panel of judges enjoyed reading all of the stories on how our entrants used ACL technology to positively impact their organizations.

We're continually amazed at the ingenuity of the auditors and assurance providers out there who have applied ACL in their jobs to make a difference.

And this year's winners are...

Grand Prize Winner - Jayant Mavlankar and Umesh Jadhav, Essar Investments Limited (India)

Regional Winners:
ASIA - Glen Laslett, Metcash Limited (Australia)
EMEA - Glen Winn, UPC Ireland (Ireland)
LAC – Maria de los Angeles Novello and Augusto Echeguren, Cia de Alimentos Fargo SA (Argentina)
NA - Byron Enamorado, Westfield (USA)

Most Innovative Use Award:  Arnold Mendoza, GE Capital Australia and New Zealand (Australia)

Most Promising Novice Award: David Crotts, Virginia Tech (USA)

Best Use of Analytics Award: Sanjeev Mishra and Nalin Kumar Srivastava, Government of India (India)

Audit Productivity Team Award: Goodluck Ogazi, Globacom Nigeria Limited (Nigeria)

Best Application of Continuous Auditing or Monitoring Award: Carlos Eduardo de Oliveira Nogueira, Procter and Gamble (Brazil)

Congratulations to all of our winners. We look forward to hearing more from you this year!