Audit & Risk

Resource review: July 2012

Here are five key sources of guidance that we have highlighted on the website over the past month:

in Tools.

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1. ISACA issues control framework for information security
The Information Systems Audit and Control Association (ISACA) has released CoBIT 5 for information security, which builds on its recently released CoBIT 5 framework to provide practical guidance for those interested in security at all levels of an organisation.
www.isaca.org/cobit

2. WEF: cyber resilience needs to be top priority for CEOs
Hyper-connectivity and new developments in hacking require chief executives to take ownership of cyber risk management, according to a report published by the World Economic Forum in collaboration with Deloitte.
bit.ly/KhD62f

3. APB consults on revisions to auditing standards on the use of internal audit
The Auditing Practices Board (APB) is seeking views on proposed changes to how external auditors use and evaluate internal audits.
bit.ly/ajs9SA

4. London 2012 publishes stress test results and case studies
The London Organising Committee of the Olympic Games (Locog) has reported that over 100 firms participated in the recent “stress test” that exercised their business continuity plans for the duration of the games. To help businesses that are still in the planning process, Locog has published a number of preparedness case studies.
bit.ly/H098Hx

5. RIMS survey finds small rise in cost of risk
Despite expectations that insured losses from natural disasters in 2011 would send insurance premiums skyrocketing, the 2012 benchmark survey from the Risk Management Society indicates that the total cost of risk has increased only mildly in the past year.
www.rims.org/book

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 Internal Auditor

London
Circa £40,000 per annum dependent upon experience and qualification status (PIIA qualified is a minimum requirement)

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.