INTERNAL AUDIT SERVICES Setting up an Internal Audit Function ADVISORY With the growing focus on corporate governance issues, organizations are increasingly exploring the potential benefits to be gained from establishing an effective internal audit function. An internal audit function would undertake an important role in risk assessment, by initiating quality improvement activities, performing performance testing, identifying possible operational improvements and opportunities for obtaining new profits. Moreover, the companies whose financial statements are audited are required to set up an internal audit function in order to comply with Government Ordinance 75/1999, as amended by Government Ordinance 37/2004. How KPMG can help The issues Our services Establishing an internal audit function While the impact of corporate that will provide an enduring benefit governance is one reason to establish • Establishment of internal audit to your organization is no easy task. an internal audit function, there are function The process will be demanding on more basic reasons why internal audit • Internal audit outsourcing senior management time and requires adds value to your organization, careful consideration of a wide range including: • Internal audit co-sourcing of • Internal audit's ability to provide • Secondment of internal audit issues to ensure that the function staff management with objective works to the organization's ...