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Canada's Magazine for Financing & Leasing Executives

February 12, 2014

Ritchie Bros. Auctioneers chooses ACL GRC for Sarbanes-Oxley compliance, internal audit, and enterprise risk management

VANCOUVER-ACL today announced that it continues to expand its global customer base by providing Ritchie Bros. Auctioneers, the world's largest industrial auctioneer, with its full ACL™ GRC solution to manage enterprise risk and regulatory compliance.

Headquartered in Burnaby, BC, Ritchie Bros. conducts live unreserved public auctions with on-site and online bidding, serving the world's buyers and sellers of equipment with operations in 25 countries and more than 40 auction sites in North America, Europe, the Middle East, Asia, and Australia. The Company also operates a secure online marketplace for equipment and materials called EquipmentOne.

As a global, public company, Ritchie Bros. was in need of a solution that would enable enterprise risk management (ERM), Sarbanes-Oxley (SOX) compliance, operational audits, and anti-fraud programs to be managed under one, integrated system.

"Our goal is to build a best-in-class risk management team at Ritchie Bros. and operational efficiency is a big part of that," said Aman Kallu, Director of Risk Management at Ritchie Bros. "ACL's GRC software makes risk management across the enterprise and compliance with SOX simple and straightforward, which will ultimately allow us to accelerate and improve our overall risk management function."

ACL GRC's intuitive workflow, visually informative interface, and risk dashboards for executives and external stakeholders will enable the company's risk professionals to tie strategic goals to risks, which cascade to controls and process owners, enabling Ritchie Bros. to strategically manage corporate risks across the enterprise.

"Ritchie Bros. takes a big-picture point of view when it comes to accountability, and management values the ability to assign specific owners to areas of risk within the organization," said Ross Paul, VP of Go to Market & IT at ACL. "The company's risk management team recognizes that cutting-edge, cloud-based software provides a simple, straightforward way to achieve this objective, which was a prominent factor in their decision to go with ACL."

ACL delivers software solutions that are transforming audit, compliance, and risk management to give organizations unprecedented control over their business.

Established in 1958, Ritchie Bros. is the world's largest seller of used equipment for the construction, transportation, agriculture, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros solutions make it easy for the world's builders to buy and sell equipment with confidence, including live unreserved public auctions with on-site and online bidding (rbauction.com), the EquipmentOne™ secure online marketplace (EquipmentOne.com), a professional corporate asset management program, and a range of value-added services, including equipment financing for customers through Ritchie Bros. Financial Services (rbauctionfinance.com). Ritchie Bros. has operations in more than 25 countries, including 44 auction sites worldwide. Learn more at RitchieBros.com.



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