In well-managed enterprises, internal audit plays a vital role in overseeing the effectiveness of enterprise risk management, internal control systems and corporate governance processes. Internal audit allows companies to strength and augment these vital internal audit functions.
Given the strong demand for suitably skilled and experienced internal auditors, most organisations find it difficult to sustain their own full-strength internal audit function and associated technical infrastructure.
This is where KPMG is helping many leading Bermudian companies, institutional organisations and government authorities.
How we can help
KPMG’s Internal Audit Services group offers practical assistance in remedying internal audit deficiencies and skill gaps.
Outsourcing – We can take over full responsibility for an organisation’s entire internal audit function at the direction of the board audit committee and/or senior management.
Co-sourcing – We can supplement an organisation’s existing internal audit capabilities, providing specialised skill sets and undertaking one-off audit assignments.
Professional resourcing – We can provide appropriately skilled and experienced audit professionals to undertake work under the direction of an organisation’s internal audit function. These engagements may be undertaken on a one-off or on a continuing basis.
Business process analysis – We can analyse relevant financial and operational controls and processes, typically at the direction of the CEO, CFO or other ‘C’ level executives.
KPMG conducts strategic performance reviews of internal audit functions, advising on performance and costs and highlighting resource gaps. We help align internal audit’s objectives with the business’ key business processes, taking account of relevant risk management, compliance and performance considerations.