Digital Internal Audit Services
Digital Internal Audit Services
In an environment of constant change, companies need to address evolving risks to business performance.
Addressing evolving risks to business performance.
In an environment of constant change, it has never been more important for companies to address evolving risks to business performance.
From the rearview to the road ahead — through data-driven insights - Is your internal audit department reporting on compliance in the past? Or identifying risks and opportunities in the future? To contribute to business performance, internal audit must shift from mere diagnostic assessments to dynamic and continuous monitoring of key risk indicators, along with predictive and prescriptive analytics that detect potential risks earlier and recommend actions. So whether you’re entering a new market or launching a new technology, you can do it with confidence, knowing that you’re enabling what must go right while guarding against what can’t go wrong.
KPMG brings a dynamic, data-driven approach to internal audit. So you can use insight — not hindsight — to anticipate and address critical enterprise risks, enhance assurance and increase resilience.
Greater assurance and resilience through technology - With data & analytics (D&A), intelligent automation and other enabling technologies, KPMG gives you greater assurance around the risks in your strategic direction, along with peace of mind that the business can quickly recover from disruptions. Facing cyber security threats? Expanding into a new market or sales channel? Considering the possible impact of block chain? From operational risks to strategic risks to disruptive forces, KPMG provides assurance services that are more thorough, efficient and scalable than in the past.
Sophisticated risk assessment techniques - KPMG’s dynamic, data-driven approach to internal audit includes techniques such as Continuous Risk Assessment, which identifies key risk indicators for ongoing monitoring and gives you better oversight of controls, and Dynamic Risk Assessment, our proprietary tool for exploring the possible impact of interconnected risks.
- Continuous risk assessment: “always on” monitoring - An annual audit plan may reflect your organization’s risk profile at a given point in time, but will it remain relevant as the business evolves? In addition to identifying the priority risks for your organization, KPMG uses a D&A tool called Continuous Risk Assessment to monitor them on an ongoing basis, providing management with a current view of risks while ensuring controls keep pace with the speed of change. (Note: See the next section for an additional supporting message on Continuous Risk Assessment.)
- Data & analytics (D&A): at the core of everything we do - At KPMG, data and analytics are not buzzwords. Rather, we use sophisticated D&A as part of our technology platform to advance all aspects of internal audit — from determining where to focus to discovering new insights to reporting — to help management make better decisions on processes and controls. We also work with KPMG Lighthouse, our global D&A center of excellence, to develop advanced analytics on trends such as socioeconomics and competitive activity — to inform solutions for your complex challenges.
- Bringing intelligent automation to internal audit - Another part of our technology platform is intelligent automation, which can improve efficiency, effectiveness and the overall value that internal audit provides to your business. For example, instead of analyzing just a sample of transactions, we can use machine learning and natural language processing to quickly review all data in a given audit to identify anomalies, assess issues and make recommendations. Our tools can also automate labor-intensive control activities like monitoring and testing. That means you can reduce time and cost while freeing up staff to focus on higher-value activities, such as analyzing root causes of anomalies or collaborating with the business to solve problems.
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