Focus Areas for Internal Audit

So, what should an internal audit of today focus on. What are likely to be key risk areas. KPMG's report titled "Focus Areas for Internal Audit" identifies the following as key areas that should be on radar of any good internal auditor.

  • Foreign Exchange Management
  • Cost Management
  • Capital Projects
  • Large Scale IT implementations
  • International Expansion/Entry Into Emerging Markets
  • Talent Management and Succession Planning
  • Mergers and Acquisitions (M&A)
  • Information Security/Data Privacy
  • Extended Enterprise/3rd Parties/Joint Ventures
  • Culture
  • Cloud Computing
  • Social Media
  • Mobile Devices
  • Regulatory Compliance
  • Environmental and Sustainability Risks

    As we can see, many of these areas are some of the recent developments in businesses such as mobile phones, social media such as facebook, cloud computing. In a nutshell, if a lot of business is being done or affected by latest technologies and infrastructure, trends, then internal auditor needs to capture these in the audit program and have a specific focus area. Usually, these new and emerging trends are most prone to risks.

    Full document may be downloaded from the following link.
    http://www.in.kpmg.com/Misc/Focus%20area%20for%20Internal%20Audit_FINAL.pdf

  • Other Services of Interest

  • Celebrating 1 Year of GDPR - Webinars from Riskpro

    GDPR turns ONE on 25 May 2019. On this Anniversary, lets explore what the last 12 months meant for global companies as it relates to Data Protection and Privacy. Riskpro India has organised 6 GDPR...
  • Procurement Fraud - Riskpro can help

    If you suspect procurement fraud, do contact Riskpro India and we can help to unearth the suspicious activity. Following are some of the ways in which we can help. 1. Review of onboarding...
  • GDPR - Data Privacy Trainings - Six Webinar on GDPR Anniversary - Riskpro

    GDPR turns ONE on 25 May 2019. On this Anniversary, lets explore what the last 12 months meant for global companies as it relates to Data Protection and Privacy. Riskpro India has organised 6 GDPR...
  • HIPAA Awareness Training (Mandatory) - Riskpro India

    EVENT OVERVIEW: HIPAA stands for the Health Insurance Portability and Accountability Act and is a US regulation that deals with security measures for protecting patient’s medical records. Employees...
  • SEBI's Insider Trading Amendment - Free Webinar by Riskpro India

    Another important compliance topic that kicks off today. SEBI Amendment to Insider Trading Regulations. Join us for an hour to learn the important changes and how to deal with these. Register -...
  • Sox Training

    Our sox training covers the following points. 1. What is SOX? 2. The Act and its Sponsorors. 3. The background for bringing in this act. 4. Major Sections in the Act 5. Section 404 overview 6...
  • GDPR Countdown

    Riskpro is working hard so that clients can GDPR deadline as the clock ticks away.
  • EU-US Privacy Shield for Data Transfers

    Come GDPR (General Data Protection Act) and EU-US PRivacy shield will assume more importance. Privacy Shield Overview The Privacy Shield program, which is administered by the International Trade...
  • Reduce your GDPR implementation Costs - Hire GDPR Experts in India

    Reduce cost for GDPR Compliance - Remote Consulting from India GDPR readiness assessment and implementation can be costly. And time is short. Instead of paying premium fees to local GDPR consultants...
  • Go to top