Our audit methodology is designed to focus the audit on the risks that might have material impact on the financial statements. It is designed to exceed national and international standards. Our professionals throughout our member firms around the world are guided by the same approach to methodology, processes and documentation. All audit staff undergo frequent and regular training to help keep their knowledge as up to date as possible.

Communication

The high quality of communication is a particular feature of KPMG's audit process. Underpinning our audit approach is a commitment to reliability, with early advice on  potential problems. The amount of quality time we spend on site and the frequent and interactive exchange of views builds a stronger working relationship, as well as bringing fresh perspectives and the early identification of emerging issues.

KPMG’s lead partners have strong technical skills, as well as extensive experience and authority to make accounting decisions which commit the firm. This empowerment of our partners, the collegiate nature of the firm and regular consultation with our clients means that our response to accounting issues that arise during the audit is prompt, decisive and consistent.

Technology

Another strength of our audit approach is the use of technology to enable and streamline audit testing. In the area of management and communication of the audit, KCentral is a secure web based tool. Designed to provide the benefit of global consistency, it allows for fast and straightforward communication and a single source of reference for all group audit reporting and other related material. ARO, KPMG's Accounting Research On-Line is a broad library of accounting, auditing and financial reporting.

Quality, Integrity and Independence

KPMG has its own quality procedures in place to which all member firms adhere, as well as being subject to external review. 

We take rigorous steps to prevent conflicts of interest. Sentinel, unique to KPMG, is a sophisticated and automated independent tracking system, helping engagement teams review, approve and verify KPMG's service relationships with business entities worldwide. The system is mandatory for the client service teams of all listed clients and is fully compliant with the legal framework.