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Internal Audit Risk and Compliance Services Internal Audit Risk and Compliance Services

Internal Audit outsourcing and co-sourcing services

KPMG provides Internal Audit services to clients without Internal Audit functions.

Our globally-tested Internal Audit Methodology (1AM) ensures that the service is fully compliant with global best practices and the international professional Standards as issued by the Institute of Internal Auditors. The methodology fully adopts a top-down strategic analysis and the risk-based auditing approach. It affords our clients effective and efficient services which add value to their organisations.

For clients with Internal Audit functions, KPMG offers co-sourcing services, whereby KPMG Internal Audit specialists work with the client's Internal Audit department in conducting sensitive assignments, or where the client needs skills transfer to benefit from KPMG's global expertise and training.

Seconding of Internal Audit specialist consultants to clients

Where an organisation or government ministry has an Internal Audit function that is understaffed or needs skills training and updates, KPMG seconds one or more Internal Audit specialists to complement the organisation's staff in conducting the assignments as per the annual audit plan.

This skills transfer provides flexibility to clients who may not be able to sustain recruitment of permanent staff.

Internal Audit departments' independent Quality Assurance Review

KPMG conducts independent Quality Assurance Reviews of clients' Internal Audit departments using its globally-attested Strategic Performance Review of Internal Audit function (K'SPRint).

K'SPRint is a diagnostic methodology that helps drive increased value from Internal Audit functions. The methodology helps management and audit committees assess how well Internal Audit is positioned within the organisation. It also provides a basis for redesigning or improving the function.

The key features of the K'SPRint approach are:

•       a conceptual framework covering the key aspects of Internal Audit, with emphasis on international standards as issued by the Institute of Internal Auditors

•       a codified framework, drawn from KPMG's knowledge and experience with Internal Audit functions, that is applicable regardless of the size or the industry in which clients operate ('best practice principles' )

•       a highly-consultative review process to gain consensus around management's expectations as a basis for defining the way forward

•       a collaborative approach to maximise value to the client

•       an automated evaluation and reporting tool to focus our findings and recommendations

•       a transformation or improvement roadmap to move the Internal Audit function forward.

Enterprise Risk Management

KPMG also offers Enterprise Risk Management (ERM) to both its audit and non-audit clients and has developed specific ERM tools that make KPMG consultants more effective in delivering such assignments. ERM is an organisation-wide approach to the identification, assessment, communication and management of risk.

The ERM Assessment Methodology provides guidance and supporting tools to help clients develop their risk profile, assess current ERM processes against leading practices and design their desired ERM state.

The ERM Implementation Guide provides fundamental guidance and supporting tools to help clients plan and implement their desired ERM state. The materials provided in this toolkit are purposely generic and can be applied in various ways to meet unique client needs. The materials may also prove useful in performing an ERM Assessment

Establishment of Internal Audit functions and staff training

KPMG assists organisations in establishing the Internal Audit function and provides Internal Audit training to staff to upgrade their skills. KPMG has a globally-attested toolkit – the Establishing an Internal Audit Function (EIAF) toolkit. EIAF focuses on providing support to those organisations that have a small or no IA function, and guides clients through the steps needed to establish the Internal Audit function.

The implementation of EIAF will typically involve the consideration of existing business processes, controls, business models, systems and organisational structures - all of which is designed to help achieve business objectives and help enhance overall performance results.

Implementing partners pre­ award/funding capacity evaluation

KPMG realises that, before awarding any grants to implementing partners, funding partners need to know the risk status of the implementing partner/s before committing funds. To this end, we have developed micro-assessment tools and methodologies that funding partners can take advantage of, covering governance, the internal control environment, financial management capacity and operational capacity.

In a pre-grant evaluation assignment, KPMG's qualified professionals provide the funding partner with the basis-of­ risk assessment, funding-approach decision and capacity-building plan.

Corporate governance reviews and training

KPMG conducts corporate governance training workshops for both private sector companies, and non­governmental organisations. Our training material is customised to specific sectors as and when KPM G provides the service.

KPMG also conducts Corporate Governance Reviews benchmarked to best practice and provides improvement recommendations.

Programme change

We deliver programme change through our development partners' superior and effective services at every stage in the programme management cycle. We help ensure that programmes deliver the maximum possible benefit to the targeted beneficiaries. KPMG can also help in identifying and mitigating the risk of project failure by focusing on programme management teams' processes, managing a portfolio of projects, and evaluating contractors ' deliverables for quality, completeness and timeliness.

Our services include:

•         Programme research and design services

•         Fund management

•         Programme and project management services, and monitoring and evaluation services.

Grant management

KPMG is committed to strengthening the capacities of charitable organisations, corporate and funding agencies to wards effective, responsible and sustainable contributions to social development. We pursue this goal by promoting aid efficiency and a transparent grant management process. We assist international foundations, funding agencies, corporates and NGOs in addressing the administrative, financial, regulatory and programmatic challenges that they face. Our objective is to help them enhance the use of funds, strengthen resource management and increase transparency, so that aid can yield greater and more measurable results.

Public sector delivery

We transform public sector service delivery by enhancing accountability and performance in the public sector. We work with government institutions to evaluate existing service delivery capacity and benchmark against best practice systems. We work to increase understanding of the implications of policy options and offer practical methodologies to deliver planned results within available budgets. We work with locaI, provincial and national governments and their affiliates. We assist the public sector, NGOs and foundations across all major service sectors such as healthcare, education, power utilities, transportation, social services and infrastructure at large.

Our services include:

•            Institutional assessments

•            Institutional strengthening/capacity building

•            Governance and strategic planning

Accountability for donors and citizens

Good public financial management and administration is a prerequisite for donor agencies supporting reforms in developing countries. KPMG offers professionalism, independence and integrity in the monitoring and assessment of development and public sector programmes, tailor-made to suit specific and stringent reporting requirements. We conduct reviews of accounts and financial statements, compliance with donor regulations and accounting principles. KPMG runs checks of lnternal Audit controls as well as verification of an organisation's assets and liabilities, including the management of commodity tracking.

We also offer:

•            Value for Money (VFM) reviews

•            Financial accounting advisory, recording and reporting

•            Management of Multi-Donor Basket Funds

•            Budget support.

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