Audit & Risk

Off the wire

Our regular listing of key news stories on the internet.

in News.

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Vatican Bank “needs more reform”, report says

BBC News Online, 18 July
The Vatican Bank needs further reforms in order to show that it’s effective at preventing financial crime, a report by a European banking watchdog has said.
http://bbc.in/NLo2Fr

HSBC’s head of compliance quits over money-laundering

The Independent, 18 July
A senior HSBC executive resigned in front of a congressional committee last night, moments after senators accused the bank of laundering money for “drug kingpins” and rogue states such as Iran and Syria.
http://ind.pn/NVjAHQ

Union calls for pension fund to pull out of PPP over race dispute

Professional Pensions, 12 July
National Union of Rail, Maritime and Transport Workers has urged the London Transport Pension Fund to disinvest in Semperian, a public-private-partnership investment vehicle, because of the behaviour of one of its subcontractors, Carillion, which has been involved in a row about racial abuse.
bit.ly/ObN4NO

Agius: FSA said Barclays governance was “best in class”

Money Marketing, 10 July
Barclays chairman Marcus Agius has rejected claims that Barclays was being “wrecked” by poor corporate governance, claiming that he was told by an official from the Financial Services Authority that it was actually the “best in class”.
bit.ly/Mfe5pC

The IIA: find out more

Visit the main IIA site

Jobs

Head of Internal Audit

Based in either Croydon or Sittingbourne.
Salary c£60,000 per annum plus benefits, inc. car allowance.

Senior Auditor

Yorkshire
£35,000-44,000 + bens. Sector: Financial Services. Ref: DJ/32540

Careers advice

Moving up

Two former heads of internal audit explain what the role taught them and how it helped to prepare them for a seat on the board.

Every secondment counts

If you are offered a temporary work placement with another employer – perhaps even in a different function from internal audit – you’d be well advised to jump at the chance. So says Chris Monk, whose organisation, Uniac, and its staff have long reaped the benefits of secondments.

The inbetweeners

Historically a stopgap for internal auditors searching for a more permanent role, interim management is now more likely to be the consequence of a positive and actively chosen career path. Why has it become such a growth area? Barclay Simpson's Andy Whyte explains.

Training & Development

Challenging conversations are habit-forming

“Any challenging conversation needs to be handled with care because people need to be handled with care. Forget this at your peril,” says Adrian Thompson, chief internal auditor, Norfolk County Council.

Q&A

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

Erratum: Audit & Risk

In the November/December 2012 edition of Audit & Risk magazine, an error appeared in the listings of the IIA members who were successful in the June 2012 exams.

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.

A world of knowledge

The IIA is always working to produce guidance aimed at helping internal auditors to stay at the cutting edge of best practice. Pauline Scott, technical coordinator, reports on the technical team’s recent work to support members.

EQA FAQs

The institute’s technical manager, Chris Baker CMIIA, explains the value of an external quality assessment, what happens during the review process – and how best to prepare for one.