|
Audit
Financial Statement Audit
Our Financial Statement Audit approach is based on a full understanding of our clients' business processes, goals, and strategies. This knowledge guides us in identifying and assessing risks that impact their business and the achievement of their objectives.
KPMG's audit methodology
KPMG is always looking to strengthen audit quality in line with the changing expectations of our clients, their investors and the regulatory authorities. We have long pursued this objective through the continuous assessment of our audit procedures, making sure that they remain as robust as possible and that they keep pace with the latest requirements.
Our audit process is reflected in our KPMG Audit Methodology (KAM). There are four key principles that underpin KAM:
- Full adherence to national and international accounting standards
Our audits are planned and designed to be performed in accordance with International Standards on Auditing, International Financial Reporting Standards and relevant national standards.
- A critical emphasis on the key procedures, risks and controls
Every aspect of KAM involves the clearest possible focus on the client's financial statements. By emphasising the critical nature of substantive procedures, effective risk assessment and control testing activities, KAM is designed to identify the risks that affect key issues.
- Understanding the business by engaging industry-experienced professionals
The quality of our audit work depends on deploying professionals with precisely the right combination of technical skills and relevant industry experience. Using multi-disciplinary teams, we develop a strong understanding of our clients' business processes, accounting policies and controls, together with the financial reporting issues specific to each organisation's industry and operations.
- Global consistency, reinforced by rigorous co-ordination and continuity
KAM is used by KPMG's auditors across all the countries in which KPMG firms operate worldwide. This means that, in any location where audit work needs to be carried out, our firms' clients can be sure it will be performed by professionals working to the same methodology, processes and documentation.
For further information about our services or if you would like one of our professionals to contact you, please contact us.
|
 |
|
