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Establishing and Improving an Internal Audit Function

Establishing and Improving an Internal Audit Function

KPMG offers to provide support and guidance to clients undertaking the steps to establish an internal audit function.

We are providing support to establish an internal audit function.

KPMG services regarding establishing an internal audit function is aimed at companies, where internal audit does not exist or the way it functions does not meet management's requirements. Implementing an effectively working internal audit function requires time, effort, and experience from management.

KPMG offers to provide support and guidance to clients undertaking the steps to establish an internal audit function.

Our support starts with an analysis of existing control processes, business model, and corporate governance of a company. We assist our Clients in defining and implementing an internal audit methodology, creating an audit card and strategic and current audit plans; additionally, we carry out initial audit tasks together with comapny's internal auditors in order to transfer knowledge. We propose that, after the first year, together with Client we prepare a summary of the audit work performed, assessing its strengths and weaknesses. Depending on company's needs, we can also assist in searching for suitable candidates to work in the internal audit function, assess the new-hire recruitees or currently working employees within assessment center, and design and provide trainings for their future development.

Benefits for a company:

  • Introducing an internal audit model based on a robust methodology and high standards, which reflect requirements from senior management, internal and external environment, and the company's risk profile
  • Saving you time, money and the use of human resources
  • Providing internal audit with the best possible candidates, who meet the defined requirements and ensuring their future development.

 

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