Telus Chooses ACL For Continuous Controls Monitoring And Compliance Solution

Vancouver, BC - ACL Services Ltd. recently announced that TELUS Communications Inc. is using ACL Continuous Controls Monitoring (CCM) technology within two critical business processes - its overall purchase-to-payment cycle and its purchasing card program. These CCM solutions allow TELUS to automate internal controls testing, enhance corporate oversight, and support regulatory compliance for Sarbanes-Oxley Section 404. ACL is a provider of business assurance analytics technology for financial management, compliance professionals, and auditors.

ACL CCM solutions are designed according to the Committee of Sponsoring Organizations (COSO) framework, which is recognized as the internal controls standard for supporting Sarbanes-Oxley Section 404 compliance. Embedding sophisticated analytics into TELUS' day-to-day operations, the ACL CCM Purchase-to-Payment and Purchasing Card modules allow the organization to efficiently access, compare, and analyze data from multiple systems across the enterprise, and independently validate transactions for compliance with TELUS' corporate controls and business rules.

TELUS is a telecommunications company in Canada, with $7.8 billion in annual revenues and is listed on the New York Stock Exchange. Its Accounts Payable division is committed to innovation and efficiency, and to promoting high standards of accountability and fiscal transparency throughout the organization. With the ACL solutions, TELUS can now efficiently monitor a wide range of transactions daily, detect errors, exceptions, and control weaknesses quickly, and resolve potential problems before they escalate.

"Continuous monitoring significantly enhances our overall level of business assurance. By reviewing our transactions on a regular basis, we know that every payment is legitimate and represents a valid business purpose. With the success in recovery of duplicate payments since implementation, we're on track to pay for our investment in ACL technology within six months," says Gary Silsbe, Director of Operational Excellence for TELUS.

Building on more than 18 years' experience working with the audit and controls professions, ACL CCM solutions extend best practices in controls compliance and transaction analysis into core business processes.

"We are pleased TELUS is using ACL's CCM solutions," says Harald Will, ACL President and CEO. "Continuous monitoring is gaining widespread acceptance as an effective way to leverage technology for more sustainable compliance. It enables organizations to automate the labor-intensive testing of internal controls, while highlighting areas where you can gain further operational efficiencies and generate significant ROI by containing costs and minimizing revenue leakage."

SOURCE: ACL Services Ltd.