Audit and risk management product maker ACL has released version 4 of its Analytics Exchange (AX) product—formerly ACL AuditExchange—with enhancements designed to enable adjacent departments, including finance, risk and compliance, to identify control deficiencies such as fraud and revenue leakage.

The upgraded product powers two offerings serving different business structures: Data Analysis for Teams and Enterprise Continuous Monitoring (ECM).

Data Analysis for Teams allows organizations to analyze transaction data and uncover what has happened so remediation can occur. The ECM product enables companies to continuously monitor the health of their controls and proactively look for gaps.

“Every month, new reports emerge of organizations being fined by international watchdogs for anti-bribery, privacy and fraudulent breaches; lack of adherence to industry-specific regulations; or corporate governance issues,” said ACL president and chief executive Laurie Schultz. “AX is a cost-effective way to monitor and test controls to protect the bottom line.”

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