KPMG can help clients develop robust governance practices, an effective audit and control environment, and measure business performance.
In well-managed enterprises, internal audit plays a vital role in overseeing the effectiveness of enterprise risk management, internal control systems and corporate governance processes.
Given the strong demand for suitably skilled and experienced internal auditors, most organisations find it difficult to sustain their own full-strength internal audit function and associated technical infrastructure.
How KPMG can help
KPMG’s top-down, risk-based approach drives value by developing an audit focus directly tied to the organization’s strategic objectives KPMG professionals offer practical assistance in remedying internal audit deficiencies and skill gaps, as well as assist with outsourcing, co-sourcing and internal audit function establishment and review.
Outsourcing and Co-sourcing
IA Outsourcing Services provide the complete internal audit function and our team can take over responsibility for an organisation’s entire internal audit function at the direction of the board, audit committee and/or senior management. Such a model reduces the operating costs and increases profit improvement opportunities.
IA Co-sourcing Services support the existing internal audit function through the use of KPMG professionals with specialised skill sets, industry knowledge, needed on demand. These engagements may be undertaken on a one-off or on a continuing basis
We can provide appropriately skilled and experienced audit professionals to undertake work under the direction of an organisation’s internal audit function. These engagements may be undertaken on a one-off or on a continuing basis.
Establishing an Internal Audit Function
We can help in planning the process for positioning of Internal Audit function, training of the staff and assistance in preparation of internal audit activity’s policies and procedures and audit plan. We carry out initial audit tasks together with a company’s internal auditors in order to transfer knowledge. Depending on company’s needs, we can also assist in searching for suitable candidates to work in the internal audit function, assess the new-hire recruitees or currently working employees, and design and provide trainings for their future development.
Internal Function Review
KPMG conducts strategic performance reviews of internal audit functions, advising on performance and costs and highlighting resource gaps. We help align internal audit’s objectives with the business’s key business processes, taking account of relevant risk management, compliance and performance considerations.