Belgium

Details

  • Service: Advisory, IT Advisory
  • Industry: Industrial Markets, Automotive
  • Type: Business and industry issue
  • Date: 01/02/2010

Stephan Claes

Stephan Claes

Partner

+32 (0)27084850

Toyota case study 

Toyota Prius

Providing problem solving and value-added recommendations

 

In preparation for Toyota’s US SOX readiness project, Toyota Motor Europe (TME), wanted a SOX specialist who would be able to help them with the management assessment of internal controls for financial reporting in IT and business processes. The supplier would also need to assume a SOX coordination role in Europe to help TME ensure consistency and quality of management assessment performed by local teams as well as timely problem detection and solving at its European subsidiaries.

TME chose KPMG because of our cross-border network, open communication and a good understanding of US SOX requirements and TMC SOX policy and instructions – together leading to problem solving and value-added recommendations. Moreover, the engagement team demonstrated continuity and cultural fit, as well as a commitment to continuous improvements.


Continuous improvements, better known as ‘Kaizen’ in Toyota terms, is a fundamental and critical element in the Toyota Way, and an annual SOX exercise at TME includes ‘Kaizen’ meetings, where TME, the KPMG team and the external auditor discuss ‘what and how can we do better next time’. The KPMG team actively contributes specific ideas on how to improve efficiency without compromising the delivered services’ quality.

 

Taking on the Toyota Kaizen spirit, which aims at being specific and clear, questioning the reasons ‘why’, identifying root causes and, eventually, finding a solution based on facts, means KPMG continues to achieve greater client satisfaction.