Overview

Risk Advisory Services

Tax and Regulatory

Financial Advisory Services

SERVICES >  Risk advisory services  >  Internal Audit Services

K’Sprint

From Traditional Internal Audit to ‘World Class’ Management Assurance, the role and nature of Internal Audit is rapidly changing. Reviewing internal accounting controls and compliance testing is not enough to satisfy today's management. Business leaders expect their Internal Auditors to continually demonstrate how they add value to the organization.

An independent quality assurance review of the Internal Audit function provides an effective means of assessing the performance of the function against management expectations and best practices, and facilities the transition to ‘world class’ standards.

Our Approach

A KPMG-conducted K’Sprint (Strategic Performance Review of Internal Audit) of the Internal Audit function is tailored to meet the specific needs of the organization. It essentially encompasses:

• Assessing whether the internal audit focus and planning process reflect its needs
• Assessing whether there are clear reporting lines and that the structure and status of Internal Audit within the organization is appropriate
• Reviewing work methodologies to ensure they comply with relevant standards and current practices

Our review is carried out by way of questionnaires, nterviews with the Audit Committee, management and Internal Audit staff, observation and review of the internal audit work, and benchmarking with generic comparative criteria. The results are reviewed and the key observations and recommendations are then presented to the Audit Committee.

On specific request, our review may include benchmarking the function against organizations of similar size and/or type. This essentially entails comparing the performance of the Internal Audit function with those of the selected organizations in terms of a range of attributes including quality of service, staff numbers, and cost.

Benefits of K’Sprint

• Objective independent advice
• Exposure to leading edge internal audit philosophy, concepts and working practices
• Understanding the gap between stakeholder expectation and internal audit performance

KPMG's Internal Audit Services include:

• Corporate Governance - Review and Assessment
• Outsourcing or Co-sourcing of Internal Audit
• K’SPRint (strategic review of internal audit departments)
• Establishing an Internal Audit Function
• Accounting procedures manual
• Reconciliation problem resolution

Back

For further details contact us