Internal audit risk & compliances services

Internal audit risk & compliances services

many business leaders have recognized that risks may not be hazards; rather opportunities to be embraced.

many business leaders have recognized that risks may not be hazards

Nowadays, business environment dynamics drive organisations to seek innovative ways to enhance their competitive advantage.

In addition, many business leaders have recognised that risks may not be hazards; rather opportunities to be embraced. At this point, awareness of good corporate governance, effective risk management and appropriate internal controls have elevated the demand for high-quality internal audit, risk and compliance services.MethodologyKPMG Hazem Hassan’s internal audit methodology has an operational and business risk focus. It is designed to aid the efficiency and effectiveness of corporate performance and business operations, to address the traditional financial and compliance areas and to assist management in understanding strategic risks, identifying cost reductions and profit improvement opportunities.

Our services can be classified into four major categories:

1- Internal Audit Service Areas Internal audit strategic sourcingKPMG Hazem Hassan’s IARCs professionals can help you reap the benefits of internal audit outsourcing or co-sourcing, While helping to reduce your costs, freeing up your capital, and enhancing your ability to focus on what you do best.Outsourcing services: KPMG Hazem Hassan’s internal audit professionals can advise you on critical business risks and implementation of effective controls by identifying more effective practices to reduce the cost of operations.Co-sourcing services: KPMG Hazem Hassan can provide you with the specific skills you require on demand — achieving a level of flexibility that can be critical in effectively dealing with a range of operational issues. Strategic performance review of the internal audit function (K’SPRint)Several organisations are increasingly relying on the internal audit function to put their key success factors into a meaningful business context. Therefore, KPMG Hazem Hassan aims at providing insight and strategic advice to clients, helping them maximise internal audit efficiency. Establishing an internal audit functionKPMG Hazem Hassan’s IARCS professionals have worked with a wide variety of organisations, providing ongoing support through advice and training on distinctive topics throughout the development of the internal audit function. Enterprise-wide risk management (ERM)ERM is an organisation-wide approach to the detection, evaluation, communication and management of risk.KPMG Hazem Hassan’s ERM professionals can provide guidance and tools to help clients assess current risks, understand the nature of risks and make the connection between risks and controls to improve business performance management systems through offering an ERM programme

2- Sustainability Assessment Service Areas Sustainability can be defined as “The commitment of business to contribute to sustainable economic development, working with employees, their families, the local community and society at large to improve their quality of life.” (World Business Council for Sustainable Development, 2004).KPMG Hazem Hassan can assist your organisation in conducting an assessment of your enterprise-wide sustainability programme and sustainability practices (including people, process, risk and technology).

3- Governance, Risk and Compliance (GRC) Service Areas KPMG Hazem Hassan’s GRC service assists your company in constructing an integrated framework that unifies governance, risk, compliance and assurance functions to achieve a consistent and holistic vision across the organisation. Having this effective integrated GRC framework: Protects and enhances business value: by fostering a risk-aware culture, supporting informed decision-making and addressing multiple compliance and assurance layers.Enhances operational efficiency: by rationalising risk management, controls and assurance structures and processes, and intelligent use of IT and data management structures. Provides a proactive and dynamic approach:

by enabling the organisation to respond to emerging challenges quickly, consistently and efficiently due to evolving risk profiles and rapidly changing regulatory requirements. Supports a linkage to strategy: by enabling a company to meet compliance objectives while improving performance by using an integrated framework in support of its strategic objectives.

4- Regulatory and Compliance Arrangements (RCA) Regulatory and compliance arrangements can be defined as: The arrangements that an organisation puts in place to meet the regulatory requirements to which it is subject to and associated internal policies.KPMG Hazem Hassan has a strong track record in providing regulatory services to member firm clients. These services cover every stage in the process for designing, building, maintaining and improving ‘regulatory and compliance arrangement.

A set of service offerings for our clients include two key service offerings:

1- The Regulatory Impact Assessment (RIA)An RIA can be conducted under a number of circumstances, including:

The client wants to understand the impact of new regulations on its current operations The client wants to establish new operations and also wants to understand the impact of current regulations on the new operations.

2- The Regulatory Gap Assessment (RGA)An RGA can be conducted under a number of circumstances, including:

The client wants to understand whether its current operations are compliant with existing regulations.
The client wants to understand how its operations need to change in order to comply with new regulations.
At KPMG Hazem Hassan, we aim to help you :

Monitor and mitigate the potential downside of conducting regulated activity, through the implementation of reliable compliance arrangements
Obtain the potential benefits of cost-effective regulatory and compliance arrangements, helping you achieve a competitive edge

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