Management and internal audit departments continue to actively seek new ways to gain access to valuable and timely information to manage risk, improve performance and control. The purpose is to constantly assess parameters defined by KPI / KRI (such as quality, productivity) and to be able to immediately react to any failures. Continuous Auditing (CA) and Continuous Monitoring (CM) meet those needs.
KPMG professionals can assist with all phases of the CA/CM implementation process, including among others:
- Developing a cost-benefits analysis of the implementation
- Developing a strategic plan for CA/CM
- Full implementation of CA/CM tools, including:
- Defining the processes of CA/CM
- Defining the ways to measure the effectiveness of processes and control mechanisms (KPI / KRI)
- Identification of the data sources to calculate KPI/KRI
- Development of reporting concepts in a clear way, useful for the whole management board
- Visualization of reports/dashboards
- Preparation of tool blueprint
- Implementation of CA/CM tools, along with the technologies used by the Client;
- Support in the evaluation and selection of tools
- Offering co-sourcing and outsourcing of Continuous Auditing and Continuous Monitoring services
- Assistance in the integration of CA-CM systems with existing procedures related to corporate governance, Enterprise Risk Management and Business Inteligence.
- Provide Clients with quick access to intuitive and interactive dashboards / reports constantly analyzing the effectiveness of the processes and controls
- Identification of key measures of effectiveness of processes and risk indicators (KPI / KRI)
- Identification of data sources in Clients’ systems, allowing for continuous monitoring of KPI / KRI values
- Support of the decision making process by providing current and accurate information
- Minimize losses thanks to the early identification of problems.