Audit & Risk

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Exclusive preview: Audit & Risk September/October

in Features

The recent revelation about financial misreporting at Toshiba is just one example of a company’s culture being implicated in a corporate scandal. This is why the IIA has worked with the Institute of Business Ethics (IBE) to encourage boards to focus on the risks of a poorly communicated or wrongly incentivised culture. The issues may be complex, but they cannot be ignored.
Words: Peter Montagnon, associate director, Institute of Business Ethics

Suppliers pose non-compliance risk

in News

Half of all organisations have faced an issue of non-compliance as a result of a supplier, according to research by MetricStream.

Top tips for protecting data

in Features

Data breaches are a part of daily life and sooner or later it's likely to happen to you. You can't stop everything, but, says Dietrich Benjes, vice-president at Varonis, you can put basic measures in place that will make it harder to steal data and keep your protection plans up to date.

Winners of the Audit & Risk Awards 2015 revealed

in News

Congratulations to the winners of the inaugural Chartered Institute of Internal Auditors Audit & Risk Awards, sponsored by Mazars. The judges were delighted with the quality and quantity of entries and selecting winners was tough. The September issue of Audit & Risk will contain a full supplement on the award winners and the judges' comments on each category. So if you narrowly missed out or want to be in the running next year, start planning your 2016 nominations now.

Regulatory pressure drives up risk vacancies

in News

The number of risk-related jobs advertised in the second quarter of 2015 has risen by 5 per cent compared with 2014, according to research by recruitment company Robert Walters.

Skills shortages and low investment expectations threaten business confidence

in News

Despite a rise in business confidence following the election, businesses are still reluctant to invest and manufacturing firms, in particular, are struggling to find staff, according to the latest ICAEW/Grant Thornton Business Confidence Monitor. This suggests firms are not making the most of opportunities to export and need to invest more in training.

IAASB calls for comments on changes to ISA 810

in News

The International Auditing and Assurance Standards Board (IAASB) is calling on all stakeholders to respond to an exposure draft on changes to ISA 810 – Engagements to Report on Summary Financial Statements.

FCA publishes review of controls over industry benchmarks

in News

In the wake of the Libor and Forex scandals, the Financial Conduct Authority has found that too many financial services firms are still not doing enough to monitor and control risks associated with industry benchmarks.

FRC publishes annual report 2014-15

in News

The Financial Reporting Council's latest annual report reports on progress against its 2013-16 programme and flags up consultation over its priorities for 2016-19. Culture and behaviour will continue to be a major focus and work on the future of external audit regulation will increase, it says.

Reputation, reputation, reputation

in Features

The old adage that you should never do anything that you wouldn't want your mother to read about in the tabloids has never been truer than in the case of several stories to hit the press in the past week. These should provide a reminder of the importance both of having an emergency response plan to deal with such reputational disasters and of regularly doing everything possible to foster and monitor the right culture throughout the business.

Blog

Policy Blog

Implementing the IIA financial services code – how are we doing?

Our survey of heads of internal audit and interviews with audit committee chairs reveals significant changes in how internal audit operates in the sector since the code was introduced in July 2013, says David Lyscom, policy director at the IIA.

Opinion

One-man band: sharing is vital

“Working with no staff has a number of advantages and disadvantages. It means that you have hands-on experience of, potentially, every aspect of the organisation you work for,” says John Collier PIIA, head of audit and risk management, the Economist Group.

Profile

Agile auditing

It is as important for internal auditors to understand the philosophy of their internal audit function and the soft skills that it requires as it is to have technical expertise, argues Phil Gerrard, director of internal audit at Rolls-Royce. He explains how this approach is helping his team to develop and add value to its relationship with managers, non-executive directors and shareholders.
Words: Ruth Prickett
Photographs: Peter Searle

The IIA: find out more

Visit the main IIA site

Jobs

Group Auditor

Permanent, full time 37 hours per week
Salary: Grade 3 - £31,845 to 37,842 per annum

Reference: 624

Head of Internal Audit

Location: North West
Salary: £competitive+bens
Job reference: DF/124180

Careers advice

Chartered by Experience

There is a new route to becoming a chartered internal auditor: Chartered by Experience.

Room to grow

If you feel stuck in your role or sector, yet are keen to progress in an internal auditing career, what are your options? You could become a non-executive director or contribute your experience to higher education, suggests Ann Brook CFIIA.

Time to volunteer

Rachel Bowden, chair of the IIA’s Guidance Working Group, explains why she started volunteering and what she has gained from the experience.

Training & Development

Tap into a rich resource

The IIA's website has loads of useful and important resources for members and the institute is committed to improving services by putting digital at its heart. So what is available – and where can you find it?

What every director should know

Two years after its first publication, the IIA has published an updated and revised version of its "What Every Director Should Know" guide. So what's changed and who should read it?

Tools

Top tips for protecting data

Data breaches are a part of daily life and sooner or later it's likely to happen to you. You can't stop everything, but, says Dietrich Benjes, vice-president at Varonis, you can put basic measures in place that will make it harder to steal data and keep your protection plans up to date.