Co-sourcing or outsourcing internal audit work can reduce costs, free up capital, and enhance your ability to focus on what you do best.
Internal audit co-sourcing and outsourcing services
Our strategic sourcing service offering is designed to assist organizations seeking to improve internal audit (IA) quality and oversight, increase value while optimizing costs, enhance risk and controls management, and focus on core competencies. We provide the ability to tap into specific skills sets, industry knowledge, and global resources on an “as needed” basis.
With organizations being driven to do more with less, the IA function has become a prime candidate for strategic sourcing. This can include outsourcing the entire function or just certain critical elements. Like many other functions, IA has become highly sophisticated and virtually a business in itself. Achieving effective IA capabilities requires a significant level of investment in skilled resources, methods, training and technical infrastructure.
How KPMG can help
KPMG's Internal Audit Methodology (IAM) is the firm's global approach to providing internal audit outsourcing and co-sourcing services. It is a risk-based approach that focuses on clients' objectives and impediments to achieving those objectives. Sourcing the internal audit function takes on a variety of forms, each presenting its own degree of "ownership" and mix of fixed and variable costs.
Internal audit co-sourcing services
Co-sourcing can provide the opportunity to tap into specific skill sets, industry knowledge and global resources on an ‘as needed’ basis. We can provide the specific skills needed on demand — achieving a level of flexibility which can be critical in effectively dealing with a range of operational issues.
Internal audit outsourcing services
We can advise companies on critical business risks, how to implement effective controls and compliance processes, better practices, how to reduce the cost of operations and profit improvement opportunities.
This issue of Frontiers in Finance focuses on management and governance that will help meet both long-term business goals and regulatory demands.