KPMG and Pergrine join forces

KPMG and Peregrine have formed an alliance to provide risk management software and services to financial firms working to comply with new FSA rulings.

Under the terms of the agreement Peregrine will provide IT infrastructure and asset management software to KPMG clients while KPMG will offer consultancy services.

The alliance is aimed at firms complying with the recently introduced N2 regulation, which requires companies to identify, allocate responsibility for, and regularly monitor all financial risk within the business.

A recent KPMG survey of UK firms showed that, despite FSA recommendations, 80 per cent of respondents did not know what costs savings they could make from asset management software, and over half had no plans to implement an IT asset management policy.