Audit & Risk

Off the wire

Our regular listing of key news stories on the internet.

in News.

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Internal auditor at a major bank: “In the US they can be very unco-operative”

The Guardian, 26 July 2012
Joris Luyendijk talks to an internal auditor about long hours – and how seniority and levels of job security affect levels of co-operation. This monologue is part of a series in which people across the financial sector speak about their working lives.
http://bit.ly/PNps7h

Internal audit’s approach to risk needs upgrading

CFO Magazine, 3 August 2012
As internal audit takes on a greater role in evaluating business-relevant risks, audit chiefs say risk-assessment processes and other risk-related functions need enhancing.
http://bit.ly/Qo05cx

Four steps to formalise internal audit’s strategic impact

CGMA Magazine, 2 August 2012
Internal audit isn’t just about compliance anymore. Increasingly, the function’s role is being incorporated into the broader business strategy – from mulling over major capital projects to advising on mergers and acquisitions. But executives say they need to do a better job of formally describing the role internal auditors will play in charting the course of the business.
http://bit.ly/MfkgEn

Fraud inquiry threat to Barclays over Arab bailout

The Independent, 9 August 2012
City watchdogs are collaborating with the Serious Fraud Office (SFO) as part of an investigation into Barclays' bailout by the Middle East, The Independent has learnt. This could lead to an investigation being launched by the fraud policing agency. Barclays announced, when it released its interim results at the end of last month, that its finance director Chris Lucas was one of four "current and former" employees under investigation by the Financial Services Authority (FSA).
http://ind.pn/PG2Y3P

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

Bedford
£30,851 - £33,661, Part-time, 18.5 hours per week, Quote ref: P000563

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.