04 Strategic Performance Review for Internal Audit (eng)

Echun

Description

——————— Strategic Performance Review for Internal Audit Many organizations are increasingly relying on their internal audit function to help put their key success factors, including workforce effectiveness, business processes efficiency, and strategic positioning, into a meaningful business context. But until it has a clear picture of its own people, processes, and positioning, internal audit’s contribution and, ultimately, its strategic value to the organization can be significantly hampered. The internal audit functions that provide the greatest value to senior management will be those that have a clear picture of their own value and a vision for rapidly increasing it. According to the Standards for the Professional Practice of Internal Auditing issued by the Institute of Internal Auditors (IIA Standards), periodic reviews should be performed through self-assessment or by other persons within the organization, with knowledge of internal auditing practices and the IIA Standards. In addition, an external assessment of its internal audit activity should be conducted at least once every five years by a qualified, independent reviewer or a review team from outside the organization. How KPMG can help n align the internal n People Does internal audit function with audit have the right KPMG’s Strategic the organization’s “people strategy” to Performance Review for business objectives; achieve the objectives Internal Audit (K’SPRint) ...

Sujets

• management

Informations

• Publié par: Phuwyug
• Nombre de lectures: 26
• Langue: English

Extrait

Strategic Performance Review for Internal Audi Many organizations are increasingly relying on their internal audit function to help put their key success factors, including workforce effectiveness, business processes efficiency, and strategic positioning, into a meaningful business context.But until it has a clear picture of its own people, processes, and positioning, internal audit’s contribution —and, ultimately, its strategic value to the organization— canbe significantly hampered.The internal audit functions that provide the greatest value to senior management will be those that have a clear picture of their own value —and a vision for rapidly increasing it. According to the Standards for the Professional Practice of Internal Auditing issued by the Institute of Internal Auditors (IIA Standards), periodic reviews should be performed through selfassessment or by other persons within the organization, with knowledge of internal auditing practices and the IIA Standards.In addition, an external assessment of its internal audit activity should be conducted at least once every five years by a qualified, independent reviewer or a review team from outside the organization. How KPMG can help n align the internal n People— Doesinternal audit function withaudit have the right KPMG’s Strategic the organization’s“ peoplestrategy” to Performance Review for business objectives;achieve the objectives Internal Audit (K’SPRint) can n as defined bycompare internal help you build and affirm the audit against soundmanagement? strategic value of your industry practices; n Processes— Are internal audit function. and internalaudit’s Much more than the n create an action planprocesses efficient, traditional transaction or aimed at increasingeffective, and aligned process  orientedquality internal audit’s value.with the organization’s assurance review, K’SPRint  strategy? puts internal audit’s key With K’ SPRint, we n Positioninternal— Is success factors, its people, undertake a review ofaudit viewed as a processes, and positioning, internal audit’s people andvalued contributor to into meaningful business processes, incorporatingthe business’s strategy context. Byproviding a KPMG’s experience andand performance? clear, indepth, and strategic the Institute of Internal assessment of your internal Auditors’ internal auditThrough its highly audit function, K’SPRint can standards. Wealso workinteractive approach and help you: closely with keyintuitive framework, stakeholders within theK’SPRint can help you n evaluate the value of organization to create aanswer these and other internal audit to the dynamic,qualityquestions —based criticalin a business; assessment of thepowerful way. n identify gaps in the internal audit function. internal audit function Specifically, K’SPRint and opportunities for focusesoninternalaudit’s improvement; three key success factors:

The information contained herein is of a general nature and is not intended to address the circumstance s of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation.

K’SPRint uses a str ctured, yet n identify matters to be Contact u flexible, framework to gather,addressed so that the For more information on how analyze, and graphically depict theinternal audit function is best KPMG can help your organization, results of the internal auditplaced to meet the future please contact us at review. Bycomparing internalexpectations of both the [e-mail] audit’s current state with theAudit Committee and expectations of key stakeholders,management, and to provide collected through indepth avalue added service to the interviews, K’SPRint’s a utomatedorganization. modeling system can identify critical performance and Why choose KPMG? expectationrelated gaps within Working in multidisciplinary the function.The results are teams, our industrytrained illustrated in a series of charts, professionals leverage which, taken together, can provide technology, audit standards, and a powerful picture of internal insights to help you rapidly audit’s current and potentialvalue. evaluate and increase internal audit’s performance. The benefits Importantly, we take a highly An independent appraisal of thecollaborative approach to the role and performance of theinternal audit review.Whether internal audit function will:we’re working with your  executiveleadership or directly nwith your internal audit team, ourhelp ensure that the internal audit function is contributinggoal is to provide the insight and to maximize the value to thestrategic advice you need to Audit Committee,enhance internal audit’s management and theefficiency. organization; and Conceptual Framework of K’SPRint

KPMG Hong Kong Web site: http://www.kpmg.com.hk2003 KPMG, the Hong Kong member firm of KPMG International, a Swiss nonoperating association. All rights re served.