Audit & Risk

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NAO publishes local audit code

in News

The National Audit Office (NAO) has published the Code of Audit Practice for local public bodies, which will take effect from 1 April.

Firms struggle to fill City risk jobs

in News

The Robert Walters City Job Index for February 2015 shows that vacancies in risk and compliance roles have risen, while candidate numbers have fallen.

You asked us

in Features

Our technical helpline provides valuable advice to members on a host of professional issues. Here are some of the questions you’ve submitted recently.

Sterling start-up

in Features

When specialist buy-to-let mortgage lender Paragon Group decided to open a banking subsidiary, it asked its internal audit department for assurance that its systems and operations were fit for purpose and that it could comply with stringent regulations. The regulators requested an assessment of the bank’s internal audit capabilities, so head of internal audit Steve Powell turned to the IIA’s external quality assessment (EQA) service.
Words: Ruth Prickett

Talent contest

in Features

As growth has returned to the UK economy, so has competition for the best people. Internal audit often gets involved in checking compliance with employment regulations, but do you regularly consider your organisation’s approaches to attracting the right staff and keeping them? How can you assure the board that the business has the right people in place now and in the pipeline?
Words: Wilma Tulloch

Driving seat

in Features

If you are a head of internal audit you will work closely with the chair of the audit committee so it’s worth considering spending a stint in that role yourself. What does it take to make this move – and how can the experience benefit both the organisation and your own career?
Words: Neil Hodge

Agricultural aggregate

in Features

Agricultural payments make up the single largest area of EU funding and all the payments need to be audited by the participating countries. This is why internal auditors across the member states are collaborating to promote consistent, common and transparent processes and controls, share best practice and ensure they remain up to date with national and European developments. Welcome to the Amadeus group.
Words: Ruth Prickett
Illustration: Toby Morison

News round-up

in News

We round up the latest business and regulatory news to affect the internal audit profession.

Audit committees: skills, tact and expertise

in Features

Increased levels of audit committee engagement can be challenging – particularly when our rigour and conclusions are under scrutiny – but we should embrace this as positive, says Ian Musgrave, assistant director, Uniac.

Planning: risk never sleeps

in Features

Auditing at the speed of risk requires continuous assessment by formal methods as well as through networking with stakeholders, all while scanning the horizon with your risk-detection antenna set high, says Richard F Chambers, president and CEO of IIA Global.

Blog

Policy Blog

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

Great expectations

Paul Kaczmar FIIA, newly elected president of the IIA, explains why internal audit should be more aspirational about its scope and value to business and reveals how he hopes to see the institute’s work in this area develop in the coming year.
Words: Ruth Prickett
Photographs: Greg Funnell

The IIA: find out more

Visit the main IIA site

Jobs

Assistant Director (Audit)

South West Audit Partnership Ltd

(2 Posts – one based in Trowbridge and one based in Dorchester)
Salary range £42,053 to £46,005

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

Talent contest

As growth has returned to the UK economy, so has competition for the best people. Internal audit often gets involved in checking compliance with employment regulations, but do you regularly consider your organisation’s approaches to attracting the right staff and keeping them? How can you assure the board that the business has the right people in place now and in the pipeline?
Words: Wilma Tulloch

Businesses struggle to recruit skilled staff

Years of cutting investment in training and development has led to a shortage of skilled professionals, according to new research by Robert Walters. Companies need to start training again, the recruitment consultancy, warned, but they also need to look further afield for new employees.

Prize performance

Abigail Francis, principal auditor at Mazars, won this year’s Charles Duly Prize for the best aggregate performance in the IIA Diploma exams. She explains how she did it.

Tools

You asked us

Our technical helpline provides valuable advice to members on a host of professional issues. Here are some of the questions you’ve submitted recently.

Spring clean your reporting style

Sara I James offers advice on one of the toughest audit tasks: drafting, reviewing and issuing the audit report.

How to protect business from geopolitical risk

Ian Beale, senior director of CEB examines the rising threats of geopolitical risk and how heads of internal audit can help to protect their businesses in a time of global uncertainty.