Financial statement audits & statutory audits overview

The benefits of KPMG’s audit

Our audit is designed to give our clients:

• Fresh perspectives on opportunities to help secure continuous improvement in financial processes, controls, risk management and corporate governance framework
• A clear and consistent focus on key issues across all worldwide operations
• No-surprises reporting which meets clients’ deadlines
• A year-round, hands-on approach that aims to anticipate issues and provides practical support in resolving them
• A robust audit opinion.

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.

The most recent evolution of our audit process is KAM – the KPMG Audit Methodology. Reflecting our traditional commitment to leadership in audit quality, our new approach goes beyond the rules developed to rebuild confidence in financial reporting. KAM is an acknowledgement of and response to the need of listed companies in particular to demonstrate maximum credibility and transparency in their reporting. At the same time, it meets KPMG’s goal of continuing to provide independent, rigorous and high quality.

There are four key principles that underpin KAM:

• Full adherence to national and international accounting standards
• A critical emphasis on the key procedures, risks and controls
• Understanding the business by using industry-experienced professionals
• Global consistency, reinforced through rigorous co-ordination and continuity

A clear focus on your financial statements

These are the key phases that KAM defines for delivering the sharpest focus on the integrity and accuracy of our firms’ clients’ financial statements:

• Planning
• Control evaluation
• Substantive testing
• Completion

For further information please contact , who may also be reached on +62 (0) 21 574 2333.