Publications about Audit Committee and Risk Management Resources
Boards of directors and audit committees looking to reassure themselves about their organisations’ ethical behaviour might ask the following questions:
• Are we safe?
• Do we need to look beyond existing risk management approaches?
• Why now and why does it matter?
• How do we spot the signals in our business?
Disruption on multiple fronts is putting audit committees on high alert.The continuing increase in global regulatory complexity –much of it in response to the last financial crisis -has a potentially disruptive effect on companies and their audit committees.
Fraud is a global scourge that harms corporate reputations, costs millions and ruins lives. It is a heavy economic and moral burden on society. In this report, KPMG professionalscompleted a detailed questionnaire about 750 fraudsters, absed on what we learned during our investigations.
KPMG’s Technology Risk Radar seeks to provide answers to such questions by combining extensive analysis of reported technology incidents with qualitative insight from industry specialists. It provides a broad-ranging view of the global technology risk landscape by offering insight into what’s going on, and what’s going wrong, across the market.
We explore the current state of audit whereaudit quality stands today, drivers and indicators of audit quality, and various stakeholders' expectations of auditors - and what the near-and-long term may hold for auditing. Is audit quality continually improving? What are the key drivers and indicators? Should the auditor's report be expanded beyond the "pass/fail" audit opinion? What innovations can campanies expect to see in the next 3-5 years?
The global financial crisis exposed the fact that manybanks lacked a proper understanding of their true riskprofile. A comprehensive risk appetite framework is the cornerstone of an effective risk management architecture. Therefore, financial institutions are to put in place an effective risk management system,by translating risk metrics and methods into strategic decisions, reporting, and day-to-day business decisions. In this paper, KPMG will be leveraging its experience on Basel 2/3 Discipline and Implementation Insights in Sub-saharan Africa services to banks to discuss practical challenges in risk governance and provide insightful solutions in responding to these challenges.
The economic outlook is currently challenged due to our vulnerability to the continuous decline in the price of crude oil, volatility in the stock markets, tight monetary & fiscal policies, rising inflation, currency depreciation, insecurity & insurgency across the country. All these together with increased regulatory pressure have created ripples in the hearts of many Nigerian businesses.
Audit Committees can expect their company’s financial reporting, compliance, risk and internal control environment to be put to the test in the year ahead. Among the top challenges and pressures: long-term economic uncertainty (with concerns about elections, mounting trade tensions, resurging debt, and market valuations), technology advances, business model disruption, cyber risk, regulatory scrutiny and investor demands for transparency, political swings and policy changes in Nigeria, US, UK, and elsewhere.
© 2021 KPMG Professional Services, a partnership registered in Nigeria and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.