- Customer Success Story -
Enhancing Audit Performance at National Applied Research Laboratories (NARLabs)
Arbutus Technology
Founded in June 2003, National Applied Research Laboratories (NARLabs) stands as an esteemed independent non-profit institute in Taiwan, dedicated to propelling the nation’s pivotal research initiatives. NARLabs boasts a consortium of specialized centers, each focusing on key scientific and technological domains. These include the National Chip Implementation Center (CIC), Instrument Technology Research Center (ITRC), National Center for High-performance Computing (NCHC), National Center for Research on Earthquake Engineering (NCREE), National Nano Device Laboratories (NDL), National Laboratory Animal Center (NLAC), National Space Organization (NSPO), Science & Technology Policy Research and Information Center (STPI), Taiwan Ocean Research Institute (TORI), Taiwan Typhoon and Flood Research Institute (TTFRI), and the Taiwan Instrument Research Institute (TIRI).
Challenge - Enhancing Internal Controls Performance
At the heart of NARLabs Audit team’s agenda was the critical evaluation of the design and operational effectiveness of its internal controls. The team identified an imperative shift from manual audit processes to a more automated approach, aiming to elevate performance and efficiency within their audit operations. The transition to automation was not merely a matter of efficiency; it was also about adopting verification methods that could conserve labor hours, curtail expenses, and streamline monitoring procedures.
The integrity of data processing stood as a paramount concern for the National Audit Office and The Directorate General of Budget, Accounting and Statistics (DGBAS) of Executive Yuan, with a spotlight on its accuracy, completeness, security, and reliability. In parallel, the overarching goal for NARLabs headquarters was to orchestrate the centralization of administrative management operations spanning their diverse scientific research centers. This objective necessitated a versatile solution capable of accommodating the distinct requirements of each center’s audit teams, inclusive of their varied staffing arrangements, from part-time and full-time to in-office and remote personnel.
Specific Challenges
Included:
-
Transitioning from Manual to Automated Processes: Moving from established manual audit processes to an automated system required a significant shift in both technology and staff training.
-
Data Integrity and Security: Ensuring the accuracy, completeness, and security of data during the transition was paramount, especially given the sensitive nature of audit information.
-
Integration with Existing Systems: Integrating Arbutus Analytics with NARLabs’ existing systems and processes would have been a complex task, requiring careful planning and execution.
-
Adaptation to Diverse Needs: The solution had to be flexible enough to cater to the varied needs of different research centers and their audit teams, as well as accommodate part-time, full-time, in-office, and remote staff.
-
Continuous Monitoring Setup: Establishing a system for continuous monitoring and scheduling of audit procedures would have involved developing new protocols and workflows.
These challenges are typical when implementing a new audit analytics solution, as they involve changing long-standing processes and ensuring that the new system works seamlessly with the organization’s existing operations and meets its diverse needs.
Solution - Strategic Implementation of Arbutus Analytics
To address these challenges, NARLabs embarked on a strategic implementation of Arbutus Analytics in collaboration with Uprofit Digital Ltd. This comprehensive solution encompassed:
-
Software Transition: The shift to Arbutus Analyzer from previous analytics software marked a significant upgrade, chosen for its robust performance and stability.
-
Centralized Management: Aiming for a unified administrative operation, the solution was designed to cater to the diverse needs of audit teams across various research centers.
-
Automation of Processes: The implementation of Arbutus facilitated the automation of monitoring processes, particularly in auditing travel expenses and procurement.
-
Continuous Monitoring: Regular and systematic evaluations were ensured through the scheduling of continuous audit procedures.
-
Enhanced Efficiency: The deployment of Arbutus led to substantial time savings in analytics setup, testing, and execution, both at headquarters and in the field.
-
Flexible Support: The solution provided adaptability to support diverse staffing arrangements, including part-time, full-time, in-office, and remote personnel.
This strategic solution effectively addressed the challenges faced by NARLabs, leading to improved audit performance, reduced labor costs, and enhanced quality of analysis results.
Start a Free Trial!
Result
After implementing Arbutus Analytics, NARLabs achieved several significant benefits:
-
Reduced Labor Costs: The shift to automated processes significantly reduced the reliance on manual auditing tasks, leading to a more streamlined audit workflow and a reduction in the labor hours required, thus cutting down on associated costs.
-
Improved Audit Procedures: By scheduling audit procedures to run automatically, NARLabs enhanced the efficiency and consistency of its operations, ensuring that audits are conducted regularly without the need for manual initiation.
-
Timely Exception Reporting: The new system enabled quicker detection and reporting of anomalies or discrepancies in data, allowing senior management to receive immediate alerts and take prompt corrective action.
- Quality of Analysis: The comprehensive analytics capabilities of Arbutus provided a more detailed and accurate view of the audit data, boosting the confidence in the results and decision-making process.
Enhanced Process Management: The integration of Arbutus Analytics has streamlined NARLabs’ audit practices.
These benefits collectively contributed to a more effective and streamlined audit process, demonstrating the transformative impact of automation and continuous monitoring in NARLabs’ audit practices.
Key Benefits:
-
Performance Improvement: The ability to schedule analytics tasks led to more efficient use of resources and a higher performance in audit activities.
-
High-Quality Results: The analytics provided by Arbutus offered a more complete overview, enhancing the quality of the audit findings.
-
Time Savings: The automation of analytics setup, deployment, and execution saved significant amounts of time, previously spent on manual processes. Reduction in frustration when setting up, deploying and running analytics
-
More Flexibility: The solution’s adaptability allowed for effective remote work and field operations, accommodating various working conditions and locations.
