Internal Audit Sourcing (IAS) 

Achieving leading internal audit (IA) capabilities requires significant investment in skilled resources, methods, training, career paths, and technical infrastructure. Maintaining those capabilities requires sustained investment during both good and challenging economic times. As both a critical business operation and a function often perceived as a cost center, IA can be a prime candidate for strategic sourcing.
KPMG's Internal Audit Methodology (IAM) is the firm's global approach to providing internal audit outsourcing and cosourcing services. It is a risk-based approach that focuses on clients' objectives and impediments to achieving those objectives. Sourcing the IA function takes on a variety of forms, each presenting its own degree of "ownership" and mix of fixed and variable costs.

Potential Benefits
KPMG's IAS services can help organizations manage internal audit costs by:

  • Reducing costs and drive value through improved quality and service
  • Providing access to professionals with specific skill sets and knowledge that are used on an "as needed" basis - the company is therefore not required to bear the fully loaded annual payroll costs
  • Converting fixed costs to variable costs, providing additional flexibility to react to changing business needs
  • Providing the scalability and flexibility to adapt to ever-changing and emerging risks
  • Providing a fresh perspective and an added level of scrutiny
  • Providing access to professionals who can provide additional value in the audit process through their technical skills (IT, forensic, treasury, risk management, procurement, etc.) and industry knowledge

Featured Success Story
KPMG's team helped a large decentralized company with operations in multiple countries to build an internal audit department. KPMG first helped the company build an outsourced internal audit department and has encouraged the company to co-source internal audit resource needs that are scalable to fit the continually changing businesses and risk profile. KPMG's team will continue to provide strategic internal audit co-sourcing services as it meets the client's need for subject matter professionals to deal with the increasing complexity of its growing business and overseas markets.

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Contact

 

             Jarrod Bassman

Jarrod Bassman
Lead Partner
jbassman@kpmg.com

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