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Unlocking the Value of Audit case study: Focus on approval processes

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KPMG’s audit – powered by D&A – is raising the bar on audit quality by enabling us to test complete data populations and understand the business reasons behind outliers and anomalies. Automated audit capabilities let our people focus on the higher risk areas of the audit. And the enhanced business insights our audit teams bring to the audit help you see your business from a new perspective. Find out how KPMG’s audit – powered by D&A – provides insights into your approval processes.

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Unlocking the Value of Audit case study: Focus on approval processes

  1. 1. Unlocking theValueof Audit — Case study: Focus on approval processes Dynamic Audit Powered by Data + Analytics
  2. 2. 2© 2016 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Issue The organization was concerned that standard approval processes in purchasing and material management were being circumvented, resulting in production delays and costing the firm time and money.
  3. 3. 3© 2016 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Analysisandinsight KPMG’s D&A capabilities pinpointed the cause of the slowdown as the inconsistent use of ERP approval processes vital to production efficiency, resulting in the frequent use of manual interventions. — The recording of deliveries outside the ERP process had a direct impact on inventory and production management. — The high volume of manual price adjustments revealed an underlying issue with the accuracy of inventory costing.
  4. 4. 4© 2016 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Result KPMG provided insights into the organization’s process that were not clearly seen before, allowing management to assess opportunities to drive efficiency and better leverage their investment in their ERP systems, which enabled them to address specific challenge areas and ultimately to streamline production.
  5. 5. Learn more at kpmg.com/AuditData Dynamic Audit insight into the effectiveness of your financial and operational processes. Data Analytics in the audit provides
  6. 6. kpmg.com/socialmedia kpmg.com/app © 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International. The information contained herein is of a general nature and is not intended to address the circumstances 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 on such information without appropriate professional advice after a thorough examination of the particular situation.

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