Excellence through Internal Audit Sourcing Services
In a competitive economy, particularly during an economic slowdown when cost, efficiency and flexibility are paramount, companies are increasingly sourcing functions outside their core competencies. This is a way of reducing costs, freeing up capital, achieving greater flexibility to respond to rapidly changing business conditions and enhancing their ability to focus on core business.
As a critical business unit and function perceived by many to be a cost centre, internal audit has become a prime candidate for third party sourcing – either the entire function or key elements of it.
There are untapped benefits internal audit sourcing could bring to your organization. This is underpinned by leveraging a strong relationship with a strategic partner to realise these benefits.
KPMG’s Internal Audit Methodology (“IAM)”
KPMG’s internationally recognised proprietary risk based internal audit methodology is fully aligned with the International Standards for Professional Practice of Internal Auditing as issued by the Institute of Internal Auditors (“IIA”). KPMG strongly supports and abides by the definition of internal auditing as issued by the IIA; the IIA’s International Standards for the Professional Practice of Internal Auditing including the IIA Code of Ethics and the IIA’s working paper standards.
Our innovative methodology is globally developed and locally deployed. It incorporates the latest internal audit trends. Our internal audit delivery teams across various disciplines all use the same methodology principles to deliver a comprehensive, yet consistent internal audit service.
We utilise our methodology to tailor our approach to your needs and we continuously update our methodology to take into account new developments in Internal Audit
Continuous control improvement through Data and Analytics
As we introduce and deliver our internal audit services to you, we will have focused discussion on how data and analytics can be introduced as a continuous monitoring solution for controls compliance monitoring and reporting for management and those Charged with Governance.