Co-sourcing or out-sourcing internal audit work can reduce costs, free up capital, and enhance your ability to focus on what you do best.
Co-source or out-source your internal audit work
With organisations being driven to do more with less, the internal audit (IA) function has become a prime candidate for strategic sourcing. Achieving effective IA capabilities requires a significant level of investment in skilled resources, methods, training and technical infrastructure.
We provide the following services:
Internal Audit Outsourcing Services
KPMG can advise you on critical business risks, implementing effective controls and compliance processes, identifying better practices, reducing the cost of operations, and realizing profit improvement opportunities.
Out-sourced internal audit function
We can supplement an organisation’s existing internal audit capabilities, providing specialised skill sets and undertaking on-off audit assignments.
Professional Internal Audit resourcing
We can provide appropriately skilled and experienced audit professionals to undertake the work under the direction of an organisation’s internal audit function. These engagements may be conducted on a one-off or on a continuing basis.
Quality Assurance Reviews of an in-house internal audit function
Our methodology focuses on three key areas - Positioning, People, and Processes. Positioning focuses on the alignment of stakeholder expectations, and the impact that the Internal Audit Department has within the organisation. We review the Internal Audit linkage to key management forums/ communications and interview a cross-section of senior managers and the Board to assess the visibility and impact across the organisation. People's aspects focus on competencies and rewards. Processes focus on risk assessment, planning, and execution of audits, reporting, and follow-up.
Training of internal audit staff
KPMG has experience in delivering a variety of courses tailored specifically to the needs of internal audit and the industry our clients operate in.
Our Internal Audit Courses include:
- Business understanding and creating the Internal Audit Plan
- Determining scope and creating the internal audit program
- Reviewing and Reporting
- Overview of the Institute of Internal Audit Standards
- Data Analytics & Continuous Improvement
- Process, Risk & Control on Base Process of choice
Control Self Assessments
Control Self-Assessment is a capability that enables auditable entities to self-assess compliance against established control frameworks on a periodic basis.
Integrated (Combined) Assurance
The Integrated risk assurance solution comprises an innovative and strategic approach to governance that is aimed at assisting organisations with Value Protection, Value Creation, and Resilience.
Major Projects Assurance
KPMG’s Major Project Assurance services have a mature, end-to-end methodology to address risk and assurance at every part of the project, from conception and proving feasibility to handover and asset maintenance.
KPMG has a dedicated team of performance auditors who specialise in assisting public and private clients with performance audit-related services.
Internal Auditors have a strong desire to effectively leverage technology to expand coverage, drive efficiencies and gain actionable insights.
Experience has taught us that having a short-term rules-based approach to regulatory compliance without a long-term maturity-driven compliance strategy, will ultimately not address organisational compliance adequately.
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