Aeon’s Internal Audit Adoption Journey

Empowering AEON's Internal Audit Team: Achieving Data-Driven Insights with Arbutus Analytics

“We didn’t start this journey with ready-made experts. We started with a team willing to learn and a structure that respected their pace. Arbutus gave us the foundation to rebuild our capability with one script, one module, one insight at a time. Today, I can say we’ve moved beyond just using a tool. We’ve become a team that thinks differently because we’ve learned how to work with data, not just react to it.

Working with Quaditix gave me the space to restart our journey with Arbutus the right way from scratch, but with intention. It wasn’t just about getting the software to work. It was about reshaping the way Internal Audit asks questions, interprets data, and connects the dots. That partnership mattered because it let us focus on what we needed most: clarity, structure, and capability.“

Nur Suriya Selasiya Mohamad Omar, Head of Internal Audit

Background and Transformation

In June 2023, AEON Malaysia’s Internal Audit (IA) team, under the leadership of the newly appointed Head of IA, embarked on a transformative journey to fully leverage the potential of Arbutus Analytics, aiming to enhance their audit processes through advanced data analytics and automation. Recognizing the immense potential of Arbutus to streamline audit processes, the Head of IA initiated a strategic transformation aimed at embedding data analytics into the core audit methodology. The goal was to make analytics not just an ancillary task but an integral component of the team’s approach. In the first year (2023–2024), the team focused on skills assessment, training, and realigning their capabilities. By Q3 2024, the team began developing key scripts using real inventory data, laying the foundation for broader analytics adoption.

Audit Team Structure: Blue Team vs Red Team

Streamline data analysis to improve efficiency and accuracy in audit processes.
Handle big data effectively while remaining user-friendly and accessible.
Eliminate the need for complex programming, allowing auditors to focus on analysis rather than coding.
Enable staff across all levels to perform analytical tasks with ease, fostering a more data-driven audit approach.

This approach enabled the IA team to scale analytics adoption at a controlled pace, ensuring that the core capabilities of the Blue Team were solid before moving forward with wider adoption.

Outcomes and Value Realized

Since Q3 2024, the team has seen measurable improvements, including:

Reduced Time for Data Preparation and Exception Detection
The full adoption of Arbutus Analytics has significantly reduced the time required for data preparation and exception detection. Automation and advanced analytics streamlined these processes, enabling the team to focus on higher-value tasks. This efficiency improvement has led to faster identification of anomalies and potential risks during audits.

Enhanced Audit Quality with Full Data Population Testing
Audit quality has been significantly improved by expanding data population testing across the full scope and period, ensuring more
comprehensive and reliable results. Previously, audits relied on sampling smaller data sets, which sometimes led to incomplete or
inaccurate findings. By testing the entire dataset, the AEON team now has more comprehensive and reliable insights, minimizing the risk of
missed discrepancies and ensuring a higher level of accuracy in the audit results.

Increased Trust and Confidence from the Audit Committee
By integrating data-driven insights and trends into the reporting process, the IA team has earned increased trust and confidence from
the Audit Committee. The committee now receives detailed, databacked reports that highlight key audit findings, patterns, and risks,
ensuring that decisions are based on solid evidence. This shift towards data-backed decision-making has strengthened the credibility of the
audit process and reinforced the value of IA’s contributions to the organization.

Transition from Static Sampling to Continuous Auditing
The transition from static sampling to continuous auditing has marked a significant shift in how AEON approaches its audit strategy. With
continuous auditing, the team can monitor processes and transactions in real-time, allowing for immediate identification of issues and faster
response times. This shift enhances the overall effectiveness of audits, reduces the potential for oversight, and ensures a more proactive
approach to risk management.

Demonstrating the Value of Arbutus Analytics

Although Arbutus was procured before the current leadership, the Head of Internal Audit reaffirmed its relevance and championed further investment in training, integration, and utilization.

Key factors presented include:

Growth in Audits Using Analytics Tools
There was a significant increase in the percentage of audits using analytics tools, reflecting a successful transition to data-driven auditing. This shift enabled deeper insights and more reliable audit findings across the organization.

Time Savings in Data Testing
Arbutus resulted in major time savings in daily data testing, analyzing millions of rows. Automation reduced manual tasks, allowing auditors to focus on high-level analysis and improving team productivity.

Identification of Key Insights and Red Flags
Arbutus enabled the identification of critical business insights and operational red flags, helping AEON address issues proactively before they escalated, strengthening risk management efforts.

Uncovering Root Causes and Trends
Arbutus helped uncover root causes and trends, not just symptoms, by analyzing full datasets. This deeper analysis empowered the IA team to recommend more impactful solutions and address long-term challenges.

Strong Support from the Audit Committee
The Audit Committee recognized the strategic value of IA analytics, endorsing continued investment in Arbutus. Their support highlighted the tool’s value in improving risk assessments and informing decisions.

Arbutus Analytics and Power BI: A Complementary Partnership

Tool Comparison for Enhanced IA Functionality

During the evaluation of various tools, AEON team assessed the capabilities of Arbutus Analytics alongside Power BI, ultimately concluding that Power BI serves as a complementary tool to Arbutus.

Here’s a comparison of the two tools:

Excel
Familiar and flexible for ad-hoc tasks but lacks scalability, traceability, and carries a higher risk of errors.

Power BI
Excellent for visual storytelling and creating insightful dashboards, but not designed for backend audit testing or the deep analytics required in audit processes.

Arbutus
Built specifically for auditors, offering robustanalytics capabilities and processing capacities for full data population testing, yet with an
ease-of-use interface enabling users of all levels to operate effortlessly

The AEON team concluded that Arbutus serves as the core testing engine for data analysis, while Power BI complements it by enhancing reporting and presentation. Together, they create a balanced and efficient workflow, ensuring seamless integration of analytics with clear visual reporting

The Road Ahead: Extending Arbutus Beyond Internal Audit

Looking ahead, AEON sees the potential to extend Arbutus’ usage to other functions within the organization:

Finance

For duplicate invoice detection and reconciliation automation

Inventory

To analyze SKU pricing movements and identify margin leakage

Human Resources

To track overtime trends andattendance anomalies

Sustainability/ESG

To validate emissions, waste, and utility metrics for accurate disclosure

AEON’s IA team is laying the foundation for a broader data assurance culture, with Arbutus serving as the cornerstone for scalable analytics models across departments.

Final Reflections

Arbutus, initially a largely untapped resource, has now become a pivotal enabler of AEON’s internal audit transformation. This journey has been about more than just implementing a tool—it has been a shift in mindset, a commitment to building new capabilities, and a focus on sustained progress.

With Arbutus, AEON’s internal audit team has moved from traditional audit hindsight to a proactive, datadriven approach, leveraging insights to identify patterns, validate risk signals, and foster greater trust through assurance.

While the transformation is ongoing, AEON’s IA team is now empowered with the right tools, structure, and capabilities to continue driving impactful change and further elevate their audit processes.

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