Dynamic Audit – powered by D&A innovations
Dynamic Audit – powered by D&A
At KPMG, we've been performing audits for over 100 years, and we've never been more excited about the value of our audits today. Our Dynamic Audit, powered by Data & Analytics (D&A) innovations, digs deeper into the data, revealing more about the business and its risks. This, combined with a relentless commitment to quality, makes for a highly effective, highly insightful audit. And we think that's of value.
Our publication explores the benefits of Dynamic Audit, powered by D&A.
- Deeper insights – Visual analysis of the Procure-to-Pay and Order-to-Cash processes streamlines our ability to see and highlight supply chain and concentration risks, collection and payment issues, and price sensitivity and elasticity in the customer base, and this may highlight gaps in controls.
- New perspectives – Interactive analysis identifies patterns such as unusual or unique transactions, customer or vendor payment trends, and potential valuation risks.
- Wider coverage – Automated analysis of transactions – pricing and quantity adjustments, for instance – across the complete sales and purchasing cycles can uncover discrepancies, anomalies and potential revenue risks.
- Data science meets risk assessment – Our risk assessment applies advanced statistical modelling to identify unexpected account correlations based on an analysis of 100 percent of journals.
- Signal in the noise – Our auditors have powerful tools to screen and identify journals matching industry specific pre-defined or tailored risk profiles across the organisation, such as unusual or manual posting activity.
- Predictive analytics – We are developing the capability to analyse macro and micro, historical and current, financial and non-financial data to determine whether the business is performing consistently – fine tuning where we may need to focus our audit.
- Value unlocked – The same data that informs our audit contains a wealth of valuable insights about employees, processes, and technology. We unlock this value with over 50 benchmarks and KPIs run across business units worldwide.
- Business flow – We visualise the end-to-end flow of transactions through our clients’ systems to pinpoint control risks, anomalies in performance, and unusual activity.
- Enhanced risk assessment – Graphical dashboards identify authorisation and segregation conflicts in the organisation and the specific products, transactions, and individuals which may present a risk.
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