Audit for Shipping & Ports Audit for Shipping & Ports
Key challenges for Shipping & Ports
Shipping and Ports have been operating in an increasingly challenging economic environment, characterized by demand and supply imbalances, volatile freight rates and vessel values, increasing regulation, environmental concerns, piracy and geopolitical risks, among others. All these factors have contributed to a challenging business environment that puts even seasoned shipping executives to the test.
The key challenges that Shipping & Ports that both worldwide and in Greece face, are the following:
- Debt management and restructuring
- Investment–Divestment options
- Fund Raising
- Operational efficiencies
- Environmental consciousness
- Digitization (Cyber Security)
- Relocation of operations and restructuring of business
- Establishing or acquiring a business presence in Greece
A competent business advisor is the one that identifies, has knowledge on and focuses on the intricacies and complications that the shipping and shipping related industries face.
Read KPMG's insights for Shipping & Ports.
Audit & Assurance
Our shipping specialists have the knowledge, understanding and experience of maritime issues to provide a wide range of services to help our clients reach their objective. As an indication, we offer the following services:
- Audit of financial statements prepared under IFRS or US GAAP
- Accounting compliance and reporting services
- Assurance reports on the process for Initial Public Offerings (IPOs)
- Other assurance reports (ISAE3402 and/or AT801 (IT Attestation SOC1)
- Service organization control reporting (IT Attestations SOC2/SOC3)
- Compliance testing services related to Sarbanes Oxley or other regulatory requirements
- Quality Assessment of the Internal Audit Function
- Review of internal controls (e.g. SOX404 compliance) or internal control system
- Development, design and testing of internal controls.
