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Reconciliation problem resolution

KPMG has experience in delivering cost-effective, reconciliation services. We bring resources to two key areas - research and overall project facilitation - which can help you significantly improve your resolution effort.

Scope

KPMG’s reconciliation services range in scope from a problem diagnostic, to resolution of one or two key accounts, to more comprehensive projects.

Our resolution services include:

• Root cause analysis – Identification of errors and recommendations to correct underlying root causes of the reconciliation problems
• Process improvement – A detailed process re-design, when the root cause of a reconciliation problem may not be easily identified

Approach

After a problem diagnostic, KPMG assembles a “blended” research team consisting of KPMG professionals and your employees. In some cases we may consider the need for engaging contract temporary personnel. This blended team approach is more productive and cost effective as each member contributes complimentary skills and experience:

• KPMG supplies reconciliation work tools, project management skills and research staff
• Client team members assist the team in a fast ramp up and bring knowledge of both internal processes and customer issues

The reconciliation work tools developed by KPMG are based on engagement experience and include the following:

• Customized reconciliation forms designed to identify balances to be reconciled, the inputs required for reconciliation, and to provide for classification and filtering of reconciling items
• Research protocols help teams identify common root causes for open reconciling items

Benefits

• Blended research teams are cost effective. The addition of KPMG staff and reconciliation work tools can increase both team motivation and productivity
• KPMG’s reconciliation status report by account provides detailed information you can use to monitor progress

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

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