audit and assurance - KPMG

Financial statement audits play a vital role in providing assurance to investors and the capital markets. At KPMG, our dedicated team of audit professionals recognizes the immense responsibility they hold in serving the public interest. By utilizing robust Data and Analytics (D&A) routines, we ensure the production of high-quality audit evidence, enabling us to gain deeper insights into the financial information of the companies we audit.

In our continuous pursuit of excellence, we go beyond traditional methods and engage with stakeholders through KPMG's 'Value of Audit' forum. By actively seeking and understanding their perspectives, we strive to enhance the value and relevance of the audit process in today's dynamic business landscape.

Our commitment to innovation is unwavering as we seek to better serve the capital markets and society as a whole. By staying at the forefront of technological advancements, we can continuously improve the accuracy, efficiency, and effectiveness of our audit procedures.

For any inquiries or to learn more about our audit services, please feel free to contact us:

Lagos Office:

KPMG Tower, Bishop Aboyade Cole Street,

Victoria Island, Lagos.

Tel: +234 9068459329

Abuja Office:

84, Kwame Nkrumah Crescent,

Asokoro, Abuja. FCT.

Tel: +234 9062278732

At KPMG, we remain dedicated to upholding the highest standards of independence and quality in financial statement audits, thereby contributing to the trust and integrity of the global financial system. 

ESG

 

A Company’s position on climate change, Diversity Equality and Inclusion (DEI) issues, and other Environmental, Social and Governance (ESG) risks is now viewed – by investors, research and ratings firms, activists, employees, customers, and regulators – as fundamental to business and critical to long-term sustainability and value creation. Especially when facing a cost of living crisis and an array of factors slowing down economic growth, oversight of these risks and opportunities will be a significant challenge, involving the full board and potentially multiple board committees. Now is the time for boards to ‘hold their nerve’ in doing what is right and sustainable over the long-term. Environmental, Social and Governance are the key metrics used to measure Sustainability while Sustainability in itself is the responsible and efficient utilisation of resources that does not hamper with the availability of said resources for future generations. In this thought leadership, both ESG and Sustainability will be used interchangeably.

Research by Mattison Public Relations shows that ESG committees are becoming an increasingly common presence on FTSE 100 boards, with 54% of FTSE 100 companies now having some form of ESG committee – whether that be described as an ESG committee, a corporate responsibility committee, responsible business committee, sustainability committee or environments and communities committee.

However, in Nigeria, most boards do not yet have a dedicated ESG committee; they are beginning to delegate ESG oversight in whole or in parts to various committees.

While committees responsible for ESG will have elements of ESG in their specific terms of reference, drawing on insights from our interactions with directors and business leaders, we highlight eight issues for the board and any committee focused on ESG to keep in mind as they provide oversight on ESG matters.

Clarity of purpose

Oversight of ESG risks and opportunities is a significant challenge, involving the full board and potentially multiple board committees. For example, elements of climate and diversity, equality and inclusion (DEI) oversight likely reside with the audit, risk management, human resources and other relevant committees – as well as the ESG committee, where they exist.

Consideration needs to be given to the coordination between committees as well as the information flows to the committees from the corporate functions (risk, internal audit, operations, legal, etc.) and from the committees to the board itself. For example, climate change might initially appear to reside with an ESGresponsible committee, but it will also likely touch the audit committee (data, the systems that produce that data, and the disclosures within the annual report), the remuneration committee (management incentives), and the nomination committee (the skills and experience of board members and senior management). Overlap is to be expected, but this puts a premium on information sharing, communication, and coordination between the committees. It also requires that committees have the expertise to oversee the issues delegated to them.

Contact Us

Lagos

KPMG Tower,

Bishop Aboyade Cole Street Victoria Island

Tel: +234 9068459329

Abuja

84, Kwame Nkrumah Crescent, 

Asokoro Abuja. FCT.

Tel: +2349062278732

forensics - KPMG

 

Assisting clients in achieving the highest levels of business integrity through the prevention, detection, and investigation of fraud and misconduct.

The prevention, detection, and investigation of fraud and misconduct

How KPMG Forensic can help

KPMG Forensic’s over 3000-strong global network of experienced professionals use accounting, investigation, intelligence, technology, economics and deep industry skills alongside consistent global methodologies to help reduce reputational risk and commercial loss, and to improve the value obtained from existing contracts.

 

The changing nature of business has created new opportunities, but also new risks and potential threats including:

•        the increasing sophistication of fraud, organized crime and terrorism more complex legislation and regulations, some with increasing extra-territorial reach

•        developing challenges around technology

•        complex cross-border disputes

•        pitfalls from expanding into emerging markets

•        dependencies on unfamiliar business partners more complex supply and distribution channels

•        theft and misuse of intellectual property.

 

Organizations that effectively monitor and swiftly respond to potentially damaging situations such as these are better placed to deal with them quickly and successfully, while reducing adverse financial, reputational or operational impact.

 

KPMG Forensic offers robust, practical advice, helping our firms' clients deal with:

•        fraud, misconduct and corruption investigations

•        tracing funds, assets, companies and individuals

•        commercial disputes

•        regulatory compliance

•        managing risk on buying or selling a business

•        intellectual property and contract governance

•        preventing and detecting fraud or financial crime.

 

We can also deploy technology tools to help clients deal effectively with large amounts of data and documentation, to manage and disclose important material or highlight fraud, weaknesses and business opportunities from within corporate data.

KPMG Forensic aims to provide our firms' clients with the tools and services they need to keep on top of the major risks they face.

Our network of over 3000 forensic professionals work in 39 accredited practices within KPMG member firms around the world. The network brings a consistent global approach, combined with a tailored local focus, to sensitive and complicated cross-border engagements.

KPMG Forensic is a trusted adviser to some of the world's leading enterprises. Our teams are located in the major developed markets as well as the key emerging economies in Central and Eastern Europe, Russia, South America, Africa, The Middle East and Asia.

 

Contact Us

Lagos
KPMG Tower,
Bishop Aboyade Cole Street Victoria Island

Tel: +234 9068459329

 

Abuja
84, Kwame Nkrumah Crescent,
Asokoro Abuja. FCT.

Tel: +2349062278732

cyber security

 Helping your organisation overcome complex cyber security challenges in an increasingly technology-driven environment.

Organisations are subject to increasing amounts of legislative, corporate and regulatory requirements to show that they are managing and protecting their information appropriately. Simultaneously, the threats from cyber criminals and hacktivists are growing in scale and sophistication.

Organisations are increasingly vulnerable as a result of technological advances and changing business practices including the internet of things, wearable technology, big data, cloud computing, services on demand and mobile technology.

How we can help

KPMG’s Cyber Framework illustrates both the organizational components and the iterative process required to help assure customers, shareholders and employees that cyber risks are being managed.

KPMG’s Cyber Services bring together specialists in information protection and business continuity, risk management, privacy, organisational design, behavioral change and intelligence management.

Our cyber services are aim to:

•        Identify the cyber threats our client face

•        Identify the gaps that may lead to a successful cyber attack

•        Help implement control to reduce the identified GAP

•        Remediate the root cause issue driving the right behavior to achieve sustainable solutions

 

Contact Us

Lagos
KPMG Tower,
Bishop Aboyade Cole Street Victoria Island

Tel: +234 9068459329

 

Abuja
84, Kwame Nkrumah Crescent,
Asokoro Abuja. FCT.

Tel: +2349062278732

audit firms in Nigeria - KPMG

Discover the top audit firms in Nigeria with our comprehensive guide. Financial statement audits give assurance over information used by investors and the capital markets.

Independent, quality financial statement audits

Financial statement audits give assurance over information used by investors and the capital markets – a responsibility to the public interest KPMG Audit professionals take very seriously, applying powerful D&A routines to create better audit evidence and gain deeper insights, and exploring the role auditors can and should play by engaging stakeholders to better understand their views through KPMG’s ‘Value of Audit’ forum. KPMG professionals – innovating to better serve the capital markets and society as a whole.

Contact Us

Lagos
KPMG Tower,
Bishop Aboyade Cole Street Victoria Island

Tel: +234 9068459329 

Abuja
84, Kwame Nkrumah Crescent,
Asokoro Abuja. FCT.

Tel: +2349062278732 

Digital Strategy

 Boye Ademola, Partner & Lead, Digital Transformation, KPMG Africa, in his overview of the event, said “At KPMG, we believe one of the enduring responses to the pandemic now and post-COVID19 is Digital. In simple terms, banks need to urgently scale up on capabilities to deliver products and services via digital channels. It is in this light that we have performed a series of user journey-centered assessments culminating in the Digital Channels Scorecard for retail banks in Nigeria. The Scorecard provides an industry perspective of how effective banks are in delivering products and services to customers via digital channels by measuring user experiences across a range of journeys for each bank. This webinar will attract a variety of business leaders from financial services, telecoms and other sectors that have a keen focus on retail growth via digital capabilities.”

Ngozi Chidozie, Strategy and Digital, Management Consulting, KPMG in Nigeria, commented as follows, “The webinar will highlight our observations on leading practices, emerging trends and perspectives on opportunities for improvement of the overall digital channels experience across the Nigerian retail banking sector. That is why this upcoming event is themed: “Leveraging Superior UX on Digital Channels to drive Retail Banking Growth.”
Ladi Asuni, Partner, Digital Transformation opined that, “The release of the Digital Channels Scorecard publication is the first in a series to come, designed by KPMG for retail banks in Nigeria to have an objective understanding of their competitive positioning with respect to leveraging digital capabilities to deliver products and services. The upcoming webinar will also feature industry experts such as Akeem Lawal (Divisional Chief Executive Officer, Payment Processing, Interswitch), Bode Abifarin (Chief Operating Officer, Flutterwave) and Meaghan Johnson (Internationally renowned Fintech Researcher and UX Expert).

Tunji Odumuboni, Associate Director & Lead, Digital Platforms, KPMG Africa, stated that " The Digital Channels Scorecard measures the quality of customer experience as they utilize products and services on 4 distinct channels – Mobile, Internet, USSD and Chatbot. The Scorecard covers 13 anchor journeys grouped into 5 thematic areas, viz: Digital Onboarding, Payments & Transfers, Self-Service, Lending and Customer Care. Our analysis of digital channels at retail banks in Nigeria resulted in 4 distinct categories. We have categorised banks in Digital Tier 1 as Leaders, Digital Tier 2 as Challengers, Digital Tier 3 as Followers and Digital Tier 4 as Late Starters.”

Boye Ademola also added ”The KPMG Digital Channels Scorecard unveils in-depth sector and domain insights from our user journey-centered assessments. It includes a benchmark of Digital Channels for retail banks in Nigeria using the proprietary KPMG Digital Channels UX Assessment Framework which employs the “mystery shopper” review approach. This edition of the publication covers the 17 commercial banks that have a strong focus on retail banking. These banks have international or national banking licenses and retail banking operations across the country.”

Egheosa Onaiwu, Associate Director, Clients & Markets, KPMG in Nigeria, in his statement encouraged “industry stakeholders to register for the event on the KPMG website using the web address, while the main hashtag for the webinar, #KPMGDigitalChannelsScorecard can be used to engage content across the KPMG social media channels, which include LinkedIn, Twitter, Facebook and Instagram.”

Contact Us
Lagos
KPMG Tower,
Bishop Aboyade Cole Street Victoria Island
Tel: +234 9068459329

Abuja
84, Kwame Nkrumah Crescent, 
Asokoro Abuja. FCT.
Tel: +2349062278732

Telecommunication in Nigeria

In a world driven by fast-growth, the emergence of non-traditional competitors and markets challenges established technology.

Technology, Media, Telecommunication
Technology
From startups to Fortune 500 companies, Technology companies worldwide aim to secure their market position through disruptive innovation. As new technologies are adopted around the world, it has become increasingly important for the leaders in this sector to understand the complexity and business transformation impact of rolling out these new products and services
How can we help?

KPMG’s technology professionals understand this changing and challenging environment. We combine industry knowledge with technical experience to provide insights that help technology leaders deal with their complex business models. Our professionals go beyond today's challenges to anticipate the potential long and short-term consequences of shifting business, financial and technology strategies. We also help clients explore potential obstacles to change and collaborate on critical decisions that can deliver real value to their businesses.
 
Media
The move to digital has had a dramatic impact on the media sector. The explosion of smartphones and tablets means that consumers have never had so many opportunities to access content. Media companies worldwide need to find new ways to adapt and change their business models to attract and engage the next generation of digital consumers in order to survive.
How can we help?
KPMG helps traditional and digital media organizations find ways to deliver media content in efficient and profitable ways. Our media professionals work with most of the world’s leading media and entertainment companies, providing extensive professional advice on a whole range of operational, financial, regulatory and strategic issues.
 
Telecommunication
The telecom sector is undergoing a huge transformation. Driven by changing consumer behavior and new mobile technology, innovative and sustainable revenue opportunities need to be found – and quickly. Increasing competition from non-telecoms providers, reduced network investments and the rise of digital media and mobile technology mean that telecoms operators need to radically change their business models and service offerings to survive.
How can we help?
KPMG's team of telecom experts work with some largest fixed, mobile and satellite companies all over the world to address their current  challenges and better align their capabilities with today’s consumer. Whether this means acting as a central ecosystems manager, or providing network, software and device capabilities, our global team can help define strategies to adjust to today’s rapidly changing market.

Contact Us

Lagos
KPMG Tower,
Bishop Aboyade Cole Street Victoria Island
Tel: +234 9068459329

Abuja
84, Kwame Nkrumah Crescent, 
Asokoro Abuja. FCT.
Tel: +2349062278732