Internal Audit

Internal Audit

We understand that the internal audit function should generate strategic value and contribute to better business performance

We understand that the internal audit function should generate strategic value

We understand that the internal audit function should generate strategic value and contribute to better business performance. In many organisations there is a pressing need to upgrade and augment internal audit capabilities in these areas. It is where KPMG can assist organisations to:

  • develop effective governance practices to enhance the work of boards, chair persons and individual directors
  • create an effective audit and control environment to establish a wide ranging assurance framework
  • instill a high performance culture and ethical business practices.

How we can add value

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.

KPMG offers practical assistance in remedying internal audit deficiencies and skill gaps by way of: 

1. Outsourcing: 

  • We can take over full responsibility for an organisation’s entire internal audit function at the direction of the board audit committee and/or senior management.

2. Co-sourcing

  • We can supplement an organisation’s existing internal audit capabilities, providing specialised skill sets and undertaking one-off audit assignments.

3. Professional resourcing

  • 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.

4.  Establishment of an internal audit function

  • KPMG help organisations establishing and/or enhancing the operations of in-house internal audit functions.
  • We conduct 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.

5. Corporate governance review

  • KPMG help Board of Management reviewing its govenrance structure and practices to ensure that they are complied with applicable local laws and international best practices.

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