Corporate governance, risk management, and the many varied providers of assurance, including internal auditing, represent the core management, monitoring, and control functions within a company. As such, their remit constantly brings them under the scrutiny of various stakeholders, such as the Board of Directors, Audit Committee, or executive management.
How can we help
Our team brings substantial experience working with and in internal audit departments. We have had the client-side experience of being subject to a QAR (Quality Assurance Review) and understand what it means to go through an external review. We have also worked in and with numerous internal audit departments both as internal auditors and performing these reviews. Our team has strong industry knowledge along with deep experience with QARs and internal audit services. We have established QAR experience and an effective, tested approach. We have teamed up with and assisted many organisations' internal audit departments, allowing us to refine our QAR approach to consistently deliver a value-adding service.
We deploy a practical, structured, yet scalable methodology, K'SPRint (‘KPMG Strategic Performance Review of Internal Audit’). KPMG’s proprietary methodology provides for the required assessment against the IIA (Institute of Internal Auditors) Standards, while also facilitating the ability to identify areas for improved internal audit efficiency and effectiveness. KSPRint is modular and scalable and can be tailored to suit your needs.
Our approach focusses on:
Positioning – How well is internal audit strategically positioned to contribute to business performance?
People – Does internal audit possess the right skillsets and resource strategies needed to effectively challenge the business?
Process - How effective are internal audit's processes in enabling the success of its objectives, and being responsive to changing business needs?