Membrane Finance has appointed KPMG, one of the largest global audit and accounting organisations, to act as its internal auditor to improve its internal auditing capabilities and ensure strict adherence to appropriate risk management practices.
As a regulated EU-based entity overseen by the Finnish Financial Supervisory Authority, Membrane Finance must adhere to stringent regulations and internal processes. Accordingly, Membrane Finance has recognised a need to improve and continually develop its internal auditing capabilities.
KPMG, a global auditing organisation, was chosen to assist Membrane Finance in improving these capabilities. By appointing an external and independent party to work along Membrane Finance’s internal teams, Membrane Finance hopes to fast-track the development of its organisational and operational maturity while avoiding pitfalls with the help of KPMG’s cumulative global expertise.
“Internal controls are essential for an operationally heavy financial-sector business like Membrane”, comments Juha Viitala, CEO of Membrane Finance. “We recognise our need to develop these controls and related operational processes continually and are excited to have KPMG provide independent and invaluable feedback to our internal teams. KPMG’s presence will uplift the level at which we operate.”
Membrane Finance’s Board of Directors is responsible for arranging and executing appropriate risk management controls and processes. While Membrane Finance’s risk management comprises three lines of defence, a robust internal auditing function is an integral part of ensuring risks do not materialise, and that business continuity is secured at all times.