ACL Accounting Software – Introduction for Beginners

ACL accounting software is an audit analytics software. Specifically, it is an audit data analysis software for use by accountants. It allows audit professionals to analyze large volumes of data. As a result, ACL has become one of the most popular audit data analytics software. Past releases of this tool have not been very robust. There has been an ongoing debate, to assess the merits of using ACL data analytics as part of audits. Nevertheless, trends indicate that future releases of the software would incorporate most of the powerful features available on other products. Therefore, it is important for all professionals, young and old to learn this tool if they seek employment in the audit and enterprise risk industry.

ACL Accounting Software – How to become an ACL Data Analyst

ACL Accounting Software
ACL Accounting Software – The fastest growing audit analytics tool

Professionals working on the Audit Command Language software are also called ACL data analyst. This title indicates a marriage of accounts and data analytics. Therefore, it is advisable for audit professionals to have a background in finance and data analytics for a smooth transition. Quite often, these requirements end up favoring folks with a technical background as there can be significant scripting knowledge required. After all, certain complex projects require the use of advanced features of a software tool.

ACL Accounting Software – ACL Analytics tutorial 

It is hard to learn the ACL audit analytics tool. There are limited resources available. Hardly any books are available on the subject. However, employers make the efforts to arrange for regular training sessions for their employees. Therefore, employees looking for a career in audit and risk domain should keep an eye out for such sessions. Employees are expected to be well prepared for such sessions. Audit analytics training sessions are useful to learn the core concepts. These sessions cover the most commonly used concepts and tricks. These are used for most day to day tasks in the Audit Command Language software.

3 Reasons ACL Analytics Is Preferred By Audit Firms

ACL analytics is transforming the audit industry in new ways every day. As a result, more audit firms are adopting this amazing tool to perform audit procedures. Apart from rich functionality, it provides an easy to use interface. Therefore, new users face a very low learning curve. A recent study indicated ACL software as the first preference for audit professionals across 90% of the audit firms.

ACL Analytics is easy to learn

ACL Analytics
ACL Analytics

Prior to ACL software, there was no dedicated auditing software for accountants. ACL audit software has changed this notion. Firstly, ACL is designed for audit professionals. Users start with new projects in no time. It is very similar to MS Excel spreadsheets. Users are able to access powerful features easily through the GUI based interface. Dedicated ‘Audit Command Language Software‘ training is required. However, users go through the training sessions very quickly.

ACL Analytics is the reason for high quality

The Audit Command language software is full of innovative features. These are essential for a high-quality audit. Firstly, there are ACL logs. ACL logs keep track of all the changes made to client data. This is very important for an audit to demonstrate high ACL compliance. Therefore, ACL compliance is an important factor to determine the quality of an audit. Secondly, ACL software has powerful features. Users are regularly provided ACL audit tutorial sessions by their employers. However, users are instructed to practice regularly to master the advanced concepts.

ACL Analytics is cost effective

ACL audit software cost is an urban legend. Firms are able to recover the investment costs within the first year of deployment. This is so because ACL software is not limited to the audit domain. ‘ACL data analytics’ can be applied to other analytics projects. For instance, ITGC testing and risk transformation are relevant domains for the ACL software.

ACL Tools Windows and MS Office

ACL Tools windows is a term, which is full of new possibilities. There are many ways where Audit Command Language Software can integrate with windows. As a result, it is very interesting to explore possible productivity scenarios. Previous versions of the ACL Audit Command Language did not provide functionality to integrate with MS office. Obviously, this is a clear need for audit professionals. It is not hard to imagine a scenario where an audit professional using data from an ACL project in a word document.

ACL Tools Windows – MS Office Integration

ACL Tools Windows - Ms Office Integration
ACL Tools Windows – Ms Office Integration

Firstly, there is a case where ACL audit procedures are available in a simple MS Office ribbon. Such functionality is simply integrated across all MS office applications like word, excel etc. Therefore, such integration allows users to access audit specific functions in any MS office applications. This is extremely useful for a GRC software. Audit Command Language software comes with options to integrate with MS office. This is one of the features in the latest release for the ACL audit analytics.

ACL Analytics Tutorial – ACL Tools Windows

Another use case of MS Office integration with ACL can be to access customised ACL commands. There is a very clear advantage of this kind of functionality. There are already many powerful ACL commands and functions, which can be used in an MS Excel sheet. Regular power users will certainly appreciate this feature. Along with the ACL Commands, another useful feature could be to leverage entire ACL programs. An ACL program is capable of much more powerful data transformation procedures than MS Excel. Therefore, this is a welcome feature. Companies are investing in regular ACL audit tutorial sessions for the employees.

Some of these features are already available in the form of MS office ribbons. More features will be released in future releases.

 

How to prepare for ACL Analytics Training

ACL Analytics Training is very important for beginners. Even though it is easy not very hard to start scripting in the ACL accounting software, some form of training should be considered. Most freshers looking to learn the basics of the ACL data analytics should be clear on their objectives from a training session. Let us look through the preparation steps for such a training session.

ACL Analytics Training – Define Your Goals

ACL software is designed for a certain purpose. This purpose is to process projects, which are based on audit and risk analytics. Therefore,

ACL Analytics Training
ACL Analytics Training

 

students looking to get productive must clearly define their goals from an ACL Analytics training sessions. This is so because there is no end to the minute details. The first goal should identify the core components of an ACL program. These would be the ACL commands and ACL functions. These concepts from the core of any audit data analytics software. Any audit analytics software would use functions to clean and format client data. Additionally, functions would be used to prepare the final data files.

Define a project for the ACL Analytics Training Session

After defining the learning areas, students should try to implement the new concepts in a live project. For instance, ACL commands like summarize and classify are easy enough to test out on sample projects to get a good feel. An ACL analytics tutorial would be incomplete if students do not attempt a practice project. ACL Training classes can be arranged by the employer within the office. Therefore, there is such a thing as an ‘ACL Training Free Session’. However, the ACL software is generally only available to firms with a license. Thus, training sessions for employees are rare. Freshers must take advantage of such sessions to address their doubts. This can be achieved through completion of sample projects.

A Quick Look at GRC Audit

All publicly traded companies are subjected to a GRC audit. Some aspects of this audit may be conducted annually. The others may be done through the year. GRC stands for Governance, Risk and Compliance. These words are not meant to be taken lightly. This is especially true in modern times, where business processes have become increasingly complex. As businesses innovate their processes, the audit techniques must also evolve and improve in order to keep up. Basically a GRC audit is a game of cat & mouse, where one is always trying to go after the other.

GRC Audit - GRC ACL Audit Software
GRC Audit – GRC ACL Audit Software

Purpose of the GRC Audit

Given the the evolving nature of business processes, new tools are used to perform audit procedures. There are specifically designed GRC software, which are used by auditors. These tools play and important part in the overall GRC program. A frequent feature in such programs in the ACL audit software. The GRC ACL combination is a very frequent pairing in the world of audit. ACL data analytics very often feature as the main tool being leveraged for internal & external audit procedures.

Important of ACL Audit Command Language Software in a GRC Audit

Although ACL audit software may not be the best piece software in terms raw performance yet somehow it very useful for auditors. There are distinct reasons behind this preference. Firstly, it is extremely easy to learn for auditors. The low curve allows for easy adoption. Adoption is also aided by the comparatively cheaper price point that the competition. Secondly, the tool allows users to document all procedures being performed on the client data. Such a feature is critically important for an audit. Such innovative features at an affordable price is ideal for audit professionals.

It may not be a stretch to claim that an engagement hitting all the right marks on the ACL compliance checklist, can be considered well audited.

Understanding ACL GRC Software

GRC audit software is a specially designed tool, routinely used by auditors. One of the best examples is the ACL GRC software. The ACL data analytics tool is most synonyms with the audit industry. It is the gold standard for any software tool designed for audit activities. There are software tools like SQL & SAS, which can be leveraged for similar purposes. However, there are significant advantages in using ACL GRC Sofware.

ACL GRC Software for Audit

ACL GRC Software - ACL Audit Analyitics
ACL GRC Software – ACL Audit Software

The main feature of the ACL GRC software is that it creates logs of all operations performed while analyzing any client data. Also, the logs are created in real time, which makes them even more reliable. Compare this to a scenario where an auditor is required to perform a GRC audit and has to prepare logs at the same time. This tedious effort is expertly handled by ACL audit software.

Easy to use User Interface

Audit folks are not very tech savvy. The ACL GRC software is designed with its users skill set in mind. It allows audit professionals to dive right into playing around with their data, with minimal training. Most auditors can start performing most basic operations by using the GUI without any formal training. An easy learning curve makes it a go option for most audit firms.

We have previously discussed the importance of the GRC audit compliance in the area of corporate governance. In today’s fast paced world, professionals in any field need the right tools to be able to perform their jobs well. This is especially true in the world of audit. There is great responsibility on the shoulders of thee professionals to ensure that all corporate citizens play by the rules. ACL Audit Command Language plays an important role in this effort all over the world.