Managing risk is about more than protecting value. Rather, it is about creating value through viewing risk management and internal audit as a lever for enhancing efficiency, effectiveness, innovation, building credibility and achieving sustainable growth. However, the constant changes in the environment and the increased speed and complexity of related risks, make it challenging for many organizations to keep an overview and adequately act upon the risks and opportunities facing.

Our Enterprise risk & assurance team supports organizations to set-up and improve their risk management, governance, business processes and controls to provide confidence that an organization’s risks and opportunities are being appropriately managed, and in line with the expectations of decision makers.

Our teams work hand-in-hand to bring integrated, multidisciplinary and cross-functional knowledge and skill sets in order to support you in the set-up, enhancement and execution of your internal audits, enterprise risk management programs (including business continuity and crisis management), and risk and controls management.

Olivier Elst

Partner | Advisory

KPMG in Belgium

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Assurance

Helping your organization to address the increasing expectations on the efficiency and effectiveness of your processes and operations (including related risks and internal controls) by providing assurance on the effectiveness of your processes and formulate concrete recommendations on how to improve processes and “gain control.” As a strategic business partner for organizations, we also monitor internal audit functions so that they are more relevant, add value and remain future-proof.

Internal audit strategic sourcing & internal control

Co- or outsourcing

Helping your organization to establish a well-staffed internal audit function that is flexible and appropriate to meet your (changing) needs.

Setting up an internal audit department;
Training and on-the-job coaching of internal auditors;
Outsourcing of the internal audit function or specific internal audits.

IC gap analysis

Analysis and evaluation of your business processes in order to sufficiently mitigate key risks within operational processes.

IC optimization
Design of internal control frameworks
IC gap analysis

Expert audit

Conducting specific audits for which your department may lack the knowledge, by involving subject matter experts from other competence areas. Amongst others:

IT security audits
Innovation audits
Sustainability audits
GDPR audits
Fraud Risk Management audits
HR audits
Strategic audits
Culture audits

Internal audit transformation

Quality review

Execution of a quality assurance review (QAR) of the internal audit department in line with International Professional Practices of the IIA.

External QAR assessments
Evaluation effectiveness of Audit Committee
Internal audit maturity assessment (IA/CM framework)

Data analytics enabled IA

Guide internal audit functions through the optimal use of data and technology in their processes, as well as in the execution of audits.

Data-analytics routines for testing
Continuous risk assessment for dynamic audit planning
Working paper automation

Strategic alignment

Support your internal audit functions to make them more future-proof and add value for your key stakeholders.

Internal audit maturity assessment
Stakeholder needs analysis
Agile/lean auditing
Internal audit strategic workshops

Enterprise risk management

Managing risk is not about compliance and box ticking. It is a critical process that can underpin an organization's long-term growth, value and sustainability.

The enterprise risk management team helps you take an integrated approach by linking strategy and risk management, identifying and assessing strategic, organizational and operational-critical risks, evaluating and implementing Enterprise Risk Management (ERM) frameworks, processes and functions.

Risk identification & assessment

Helping you to identify, assess and prioritize your significant strategic and operational risks:

Assessment of framework and process
Evaluation scales
Holistic view on the risk and opportunity landscape
Overview of key risks
Dynamic risk assessment (DRA)
Training on risk identification & assessment

Risk governance

Helping you to support risk management with proper governance and process:

ERM maturity assessment
Governance assessment
Design and implementation of risk management framework and process
Training on risk management and internal controls

Risk strategy & appetite

Helping you to align (emerging) risk with your strategic priorities:

Assessment of the link between risk strategy and appetite
Signals of changes assessment
Risk appetite definition & implementation
Development of KRI

Risk culture

Helping you to put in place, improve and embed risk culture in your organization:

Risk culture assessment
Risk culture thermometer
Design, implement and monitor action plans to implement, improve and embed risk culture
Design, implement and monitor behavioral change management journey
Training on risk culture

Risk reporting & insight

Helping you to bring risk information into your decision-making process:

Assessment and implementation of GRC tools
Dashboard creation
Design and implement a risk reporting framework and process

Risk management & monitoring

Helping you to adequately manage and monitor your risks:

Design, implement and monitor action plans on key risks (quick-wins and long-terms actions)
Design and implement a risk monitoring framework and process
Quick-wins analysis
Deep dives on key risks

Get in touch

We'd love to hear from you. Get in touch with one of our professionals, specialist groups or KPMG offices.

Enterprise risk & assurance