BC Government Ministry of Finance Recognized Internationally for
Excellence in Corporate Governance
TORONTO, Oct. 31 /CNW/ - ACL Services Ltd. is pleased to announce that
longtime client, the British Columbia Government Ministry of Finance, won the
Silver award for Corporate Governance at Treasury & Risk's 13th Annual
Alexander Hamilton Awards gala in New York on Monday night.
With ACL technology, The Corporate Compliance & Controls Monitoring
Branch of the Office of the Comptroller General implemented a bold,
innovative, best practice in governance and risk that has achieved average
efficiency savings of $20 million in each of the past three fiscal years.
Treasury & Risk has been honoring excellence in treasury management and
finance at the largest US and international companies for the past 12 years
with its prestigious Alexander Hamilton Awards. Since their inception, the
awards have attracted hundreds of submissions from some of the most creative
and innovative finance organizations.
"Our program achieved over $20 million in efficiency savings in each of
the past three years thanks to full data coverage and an effective risk-based
sampling strategy," says Shyrl Kennedy, Executive Director of the Corporate
Compliance & Controls Monitoring Branch, who accepted the silver award for
Corporate Governance. "It is affirming to be internationally recognized for
our best practices and innovation in corporate governance. We were very proud
to be both the only Canadian and, the only public sector organization, to
receive an award alongside private sector giants -- all highly successful
organizations with impressive insights into the future of finance."
Other award winners include General Electric Company, Google, Inc.,
Honeywell International, Microsoft and Toyota Financial Services.
Harald Will, ACL CEO & President, commented: "We are always impressed
with the results our clients are able to achieve when the best of people,
process and technology come together. Our congratulations go out to Ms.
Kennedy and her team for the significant benefits they have accrued for the BC
Government Ministry of Finance, and ultimately, to the citizens of British
For more information on the award-winning BC Government Ministry of
Finance program, view the Case Study at http://www.acl.com/finance
About the Office of the Comptroller, B.C. Government Ministry of Finance
The post-payment review function was established in November 2001 as part
of the Office of the Comptroller General's overall governance function. The
Payment Review Office was a one-of-a-kind, risk-based governance program
established to save resources, monitor and improve policy compliance and
reduce financial risk by testing and reporting government compliance with
financial and procurement policies and legislation.
In 2004, the program's mandate was expanded to include high risk payment
transactions and in October 2006, the name of the program changed to Corporate
Compliance & Controls Monitoring Branch (3CMB) to recognize the program's
broader mandate of improving internal controls.
3CMB is a necessary financial control, providing a "threat of detection"
to encourage compliance across government ministries in B.C. More importantly,
through a continuous improvement cycle and by amalgamating systems, data,
people, policy and processes, 3CMB reports valid and useful information to
improve the efficiency and effectiveness of government operations through
strengthened controls and improvements to policies, systems and training.
About ACL Services Ltd.
ACL Services Ltd. is the leading global provider of technology for audit
and compliance professionals. Combining market-leading audit analytics
software and professional services expertise, ACL solutions give auditors
confidence in the effectiveness of internal controls and the integrity of the
transactions underlying business operations.
Since 1987, ACL has enabled auditors to assure sustainable compliance,
reduce risk, detect fraud, enhance profitability, and improve business
performance. ACL delivers its solutions to more than 215,000 licensed users in
over 150 countries through a global network of ACL offices and channel
partners. Our customers include 95 percent of Fortune 100 companies, 85
percent of the Fortune 500 and over two-thirds of the Global 500, as well as
hundreds of national, state, and local governments, and the Big Four public
accounting firms. http://www.acl.com
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For further information:
For further information: Beth Hardy of ACL Services Ltd., (604)
974-1425, firstname.lastname@example.org, http://www.acl.com