Dynamic Risk Assessment provides new levels of risk assessment that work to enhance audit quality.
DRA provides new levels of risk assessment that work to enhance audit quality.
KPMG’s Dynamic Risk Assessment (DRA) was developed by a KPMG team of data scientists, mathematicians and economists. It is an evolution in risk assessment that applies actuarial theories, sophisticated algorithms, mathematics and advanced data and analytics together in a KPMG proprietary methodology to identify, connect and visualise risk in four-dimensions.
This unparalleled view takes into consideration risk interconnectedness and the velocity with which risks can impact business operations. Combining the latest in applied science with insights from management and extensive benchmarking, DRA modelling allows our auditor professionals to see where risks can be expected to form critical clusters or trigger ‘contagion’ with other risks. By exposing the expected contagion effects between global and enterprise risks, we objectively measure the genuinely significant threats.
These fresh insights arm our audit professionals with new levels of risk assessment that work to enhance audit quality. They will also be able to provide clients with new insights that they may use to drive more-informed decisions within their organisations about how best to tackle and monitor these threats.