Citrix MetaFrame Application for Windows 1.8 Administrator's Manual page 127

If no arguments are specified, aclcheck checks all local drives and then checks the
HKEY_LOCAL_MACHINE portion of the system registry.
Any files or registry keys that non-administrator users can write to are reported in
the following format:
Aclcheck also audits the MetaFrame execute list (created and maintained by the
Application Security utility) to verify that no executable files in the execute list are
writable by users.