strengthening internal audit through cosourcing

Description

Cosourcing with KPMGStrengthening Internal Audit Through CosourcingPerhaps your internal audit department staff members lack specific skills and experience.Perhaps you need support or technical know-how when special projects arise. Or perhapsyou want to refocus the internal audit function on critical business risks and transform itKPMG can help you from a “cost center” into an “operations improvement center.” KPMG can help. supplement your internalAs a recent KPMG survey of senior effectiveness of your internal audit func-audit staff and broaden executives and internal audit directors tion. And we can do so in much lessyour capabilities in a cost-reveals, many internal audit departments time and for significantly less moneyefficient manner through simply do not have professionals with than it would take for you to developall of the required skills and experience the needed resources internally.cosourcing.to meet management’s increasingdemands for value from the internal KPMG: Delivering the Rightaudit function. Other departments do not Resources have a large enough staff to handle all In cosourcing with KPMG’s MAS prac-of their projects. tice, you will get the right resources foryour needs. To match our resources toIn response, many leading organizations your specific internal audit needs andcosource internal audit work. Recogniz- objectives, we will first sit down withing that internal audit is not a core pro- you to precisely determine your ...

Sujets

• management
• managers

Informations

• Publié par: Ontau
• Nombre de lectures: 16
• Langue: English

Extrait

KPMG can help you

supplement your internal audit staff and broaden your capabilities in a cost efficient manner through cosourcing.

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ng the Right

ith KPMGÕs MAS prac- t the right resources for atch our resources to ernal audit needs and ill first sit down with determine your needs s. We will then:

ith not only internal onals but also other ssionals skilled in such -commerce, procure- chain management, ing on your specific

G professionals who dustry and the types ssues facing your

▲ Select resources not just from around the block but from around the globe, when appropriate, to help you get people with the right skills and expe- rience at the right time.

Some Recent Success Stories KPMG conducted a comprehensive business risk assessment for a Fortune 500 communications companyÑidenti- fying and ranking risks, formulating a risk-based internal audit plan, and align- ing internal auditÕs focus with the com- panyÕs strategic objectives and the needs of senior management. The initial process audit from the risk-based plan focused on forecasting and inventory management. KPMGÕs internal audit professionals worked in tandem with our information systems and supply chain consultants to evaluate demand and supply projections to capitalize on future scheduled price reductions. Rec- ommendations resulted in $3.25 million in immediate cash savings to the com- pany, combined with significant process and control enhancements.

KPMG performed a postimplementation control assessment of a new billing and customer care system for a leading telecommunications company. The assessment included the evaluation of

the business processes and system con- trols surrounding the revenue cycle.As part of the project, KPMG identified control weaknesses and developed alter- native processes and controls to enhance risk mitigation. As a result of the review, the company was able to modify business processes and system controls to better leverage the capabilities of the billing and customer care package.

The internal audit department of an inter- national manufacturer engaged KPMG to perform a supply chain management review at 14 foreign subsidiaries. The scope included customer order and ful- fillment, inventory management, logis- tics, and a postimplementation review of the new customer order entry system. This review identified process improve- m lo su th ab

To Learn More For more on how KPMG can help you transform your internal audit function, contact:

Ed DeSouza New York, 212-872-5780

Bill Larrenaga Boston, 617-988-1032

John MacIntosh Atlanta, 404-979-2153

Mark Stauffer Chicago, 312-665-5391

Mike Nolan Houston, 713-319-2802

Mark Hutchins Los Angeles, 213-955-8327