Internal Audit Sourcing

Internal Audit Sourcing

Achieving leading internal audit (IA) capabilities requires significant investment.

Achieving leading internal audit (IA) capabilities requires significant investment...

Achieving leading internal audit (IA) capabilities requires significant investment in skilled resources, methods, training, career paths and technical infrastructure. Maintaining those capabilities requires sustained investment during both good and challenging economic times. 

For small and mid size companies, having a separate Internal Audit Department might be too costly and heavy on the internal structure. Having the opportunity to rely on an internal auditor can be offered by our KPMG Internal Audit Sourcing Services. 

What can KPMG do for you?
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 IA function takes on a variety of forms, each presenting its own degree of "ownership" and mix of fixed & variable costs. 

Furthermore KPMG can help to set up your Internal Audit function (e.g. draft IA charter, manual) and can evaluate your Internal Audit function by performing a Quality Assurance Review in line with best practices.

 

Potential Benefits
The professionals of KPMG's Dutch Caribbean and Suriname IAS services can help organizations manage internal audit costs by:

  • Reducing costs and drive value through improved quality & service.
  • Providing access to professionals with specific skill sets and knowledge that are used on an "as needed" basis - the company is therefore not required to bear the fully loaded annual payroll costs.
  • Converting fixed costs to variable costs, providing additional flexibility to react to changing business needs.
  • Providing the scalability and flexibility to adapt to ever-changing and emerging risks.
  • Providing a fresh perspective and an added level of scrutiny.
  • Providing access to professionals who can provide additional value in the audit process through their technical skills (IT, forensic, treasury, risk management, procurement, etc.) and industry knowledge.

 

Featured Success Story
KPMG professionals helped financial institutions to build an internal audit department. KPMG first helped the company build an outsourced internal audit department and has encouraged the company to co-source internal audit resource needs that are scalable to fit the continually changing businesses and risk profile. KPMG's team will continue to provide strategic internal audit co-sourcing services as it meets the client's need for subject matter professionals to deal with the increasing complexity of its growing business and increased laws and regulations the institution has to comply to.

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