Arizona State University Chooses ACL to Streamline Audits and Improve Efficiency Across the Organization University Audit Team Implements a Data-Driven Approach to Audit Management
VANCOUVER, British Columbia, Oct. 23, 2013 /PRNewswire/ -- ACL today announced that Arizona State University (ASU) has selected http://www.acl.com/solutions/products/acl-grc/ACL to bolster its governance, compliance, and risk management (GRC) capabilities, as well as improve internal controls to identify instances of fraud. ACL's integrated software and consulting solutions will provide ASU with a data-driven platform to manage audit processes, increase efficiency, and achieve business objectives across the organization.
Arizona State University is one of the top 100 research universities in the world, according to the Center for World University Rankings and the Academic Ranking of World Universities, and is ranked fifth in the United States for producing career-ready graduates with the skills to succeed in the workforce, according to a survey conducted by The Wall Street Journal. It is the largest public research university in the nation under a single administration, with total student enrollment of more than 76,000 across four campuses in metropolitan Phoenix, the nation's fifth-largest city.
The university's audit team required a solution to assess risk areas, manage audit projects, and monitor transaction-level data to continually adjust and ensure sound internal controls.
Through use of ACL technology, ASU will focus key audits on the following areas:
- Academic fee review for student programs and facilities
- National Collegiate Athletic Association (NCAA) compliance
- Information Technology
- Construction project billings
- Student housing
"We identified a need within University Audit for a more effective and efficient process to perform and document our audit projects, and ACL's data-driven GRC technology was a great fit," said Tracy Grunig, Director of University Audit at ASU. "The consulting services and ACL's service-oriented approach have created a smooth implementation process and served as a valuable resource throughout the purchase and implementation."
"More than ever before, colleges and universities are keeping a close eye on the bottom line and proactively managing reputational risks," said Greg Thomas, Director, Public Sector Practice at ACL. "By implementing ACL's data-driven GRC solution, the ASU team can immediately detect and prevent fraud, waste, and abuse, while identifying potential revenue losses before they become material."
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