Data-driven audit & SOX management at Nu Skin
“We do everything in ACL now. All our testing documentation is in ACL and we can send review notes and it’s linked to the specific area, specific control that we have a question on. The status of the work project is a lot easier to track when everything is in a central location and we can just run a report and show what’s done, what’s not done and where things are at.”
Internal Audit Manager,
Founded in 1984, Nu Skin Enterprises, Inc is a direct selling company that develops and distributes innovative consumer products, offering a comprehensive line of premium-quality beauty and wellness solutions. Nu Skin operates in markets across Asia, the Americas, Europe, Africa and the Pacific.
Easy to learn and implement
Say goodbye to spreadsheets and documents—view the status of an entire work project in one place
Automate minor details and spend time on important tasks
Interview with Jake Willis, Internal Audit Manager, Nu Skin
Nu Skin is a direct sales company. We use a distributor network throughout the world to sell skincare and anti-aging products.
Describe your role at Nu Skin.
I’m the internal audit manager at Nu Skin. We do a lot of SOX compliance, a lot of control testing and control monitoring and working with management to remediate any control issues.
As a global organization, what kind of risks does Nu Skin face?
A lot of our risk is more geographical. We’re all over the world, so we have to make sure that we are following all the laws and regulations and all the requirements in all the different markets that we have throughout the world. Primarily, we’re looking at financial risks right now. So we look at all the revenue, purchasing, payroll, and all the different business processes.
What drove you to look for an audit management solution?
Everything was stored in files on a drive on the computer. Everything was done through Excel, review notes, comments, everything. Including emails back and forth sometimes with those review comments or questions about things that we’re looking at as we’re going through our testing.
How has ACL changed the way you and your team work?
We do everything in ACL now. All our testing documentation is in ACL and we can send review notes and it’s linked to the specific area, specific control that we have a question on. The status of the work project is a lot easier to track when everything is in a central location and we can just run a report and show what’s done, what’s not done and where things are at. So that’s made life a lot easier.
Tell us about the implementation process.
We did online training which was probably enough to get us started if we really wanted to, but we also had the ACL team come onsite and do some in-depth training for, I think, they were there two or three days. But within the first day of using it, you realize how easy it is. It’s really intuitive. All the information’s there that you’re looking for. It flows in a process that, as an auditor, it’s kind of what you would expect.
How has your team benefited from using ACL?
Everything can be done within ACL. There’s a spot for our planning documentation, our narratives, all the processes that we would have normally done in a manual way before, e.g., in a Word document and Excel—planning, fieldwork, reporting—can all be done within ACL. You’ll spend less time worrying about some of the minor details, like making sure everything’s reviewed and making sure everything’s been completed, and have we tested everything? Because that’s really easy to see so you don’t have to spend your time worrying about the little things. You can worry about more of the things that are important as opposed to the things that are required.