CA and CM approach can deliver regular insight into the status of controls and transactions across the global enterprise, enhancing risk and control oversight capability through monitoring and detection. KPMG can assist in:
— Evaluating current status of the organizations and assessing effectiveness of the current controls;
— Designing and implementing CA/CM approach including risk-based: dashboards, scorecards, analytics, reports and management protocols;
— Executing individual CA projects;
— Evaluating anti-fraud processes that are part of the CA/CM approach;
— Automation of controls;
— Integration with governance, risk and compliance initiatives;
— Designing with more sophisticated data analysis initiatives;
— Evaluating and recommending tools and applications;
— Assessing risk and scoping.
The technique of data analytics is the key to unlocking this additional value. By deploying advanced technology and statistical methodologies to collect, integrate, analyze and present the data, companies can gain powerful insights into important elements of a business and the way in which it operates.
KPMG has developed several methodologies for improving the quality and reliability of data analysis including instruments as K-Trace, Facts 2 Value and K-Proctor. All of them consists of several separate analyses that can be applied across a wide range of ERP platforms.
Transforming Internal Audit and Management Monitoring to Create Value