Financial statement audits play a critical role in creating and maintaining investor confidence and can unlock valuable insights into the business.
Financial statements audits play a critical role in maintaining investor confidence.
Audit quality is vital for maintaining trust in the financial reporting process and the integrity of financial information. Audit teams equipped with a high level of technical skills and exercising professional skepticism provide the heart and soul of a good audit.
KPMG Audit Methodology (KAM)
The KPMG Audit Methodology focuses on business issues and the matters that can impact the financial statements, whilst also retaining the basic audit procedures that test the information contained in the financial statements.
Our approach is grounded in the market dynamics of our clients ensuring that our judgments are both relevant and insightful.
The KPMG Audit Methodology is therefore effective and conducive to quality. It allows us to deliver quality, independent, rigorous and robust audit opinions.
International Financial Reporting Standards are being promoted as a single set of high quality, understandable and enforceable global standards.
The adoption of IFRS in the EU, Australia, and many other countries follows the global trend for enterprises to report under IFRS. Canada and India are expected to transition to IFRS by 2011. Mexico plans to adopt IFRS for all listed companies starting in 2012, and Japan has introduced a roadmap for adoption that it will decide on in 2012 (with adoption planned for 2016).
KPMG member firms have extensive experience in providing services for enterprises reporting under IFRS and can assist you in IFRS implementation and in doing so help you to seize the opportunity provided by IFRS.
U.S. GAAP reporting services
We can assist clients to conform with – and report under – U.S. GAAS and U.S. GAAP, when required and as appropriate.