News
We round up the latest business and regulatory news to affect the internal audit profession. Read on for the latest news affecting internal auditors.
2019
May/June
Law Commission calls for new guidance to improve anti-money-laundering regime.
The Law Commission has called for a new advisory board and statutory guidance to reduce wasted time and improve the UK’s ability to tackle money laundering and terrorist financing.
A new report from BSI identifies five major themes most likely to impact supply chains in 2019.
Audit & Risk Awards 2019: Reimagining internal audit
They’re back! The Audit & Risk Awards are now in their fifth year and we are delighted to be working again in partnership with PwC to make them bigger and better than ever. See the future? Enter the Audit & Risk Awards today.
Audit & Risk Awards 2019: Categories and criteria
The Audit & Risk Awards 2019 are now live. Nominate today.
Audit & Risk Awards 2019: top tips for a good nomination
Reimagining internal audit? The Audit & Risk Awards 2019 offer you a unique opportunity to showcase how you and your team are helping to forge the internal audit practices and people the profession needs to carry it forward and meet the future needs of businesses. Don't hold back. Nominate today.
Network: support the change agenda
More now than ever, it feels as if innovation and change are all around us – in the external environment and within our own organisations and businesses. Discover why it's important that we embrace internal audit’s role in understanding the change that organisations are subject to.
Audit & Risk Awards 2019: What makes a good nomination?
Understand what makes a good nomination in the Audit & Risk Awards.
Audit & Risk Awards 2019: Top tips from the judges
All the information you need to know about the judging process for the Audit & Risk 2019 Awards – plus useful tips for entrants from judges in previous years.
The Audit & Risk Awards 2019: Key facts
Explore the main selling points of the Audit & Risk Awards.
A new report from the Association of Chartered Certified Accountants (ACCA) reveals how board-level risk management activities vary in organisations as a result of internal and external factors. Read more about the study here.
Audit & Risk Awards 2019 – new deadline for nominations
The deadline for entries for the Audit & Risk Awards 2019 has been extended to 30 August. Start planning your entry now.
PASA publishes cyber security guidance for pension schemes
New cyber security guidance for pension schemes has been issued by The Pensions Administration Standards Association (PASA).
ICAS calls for UK Sarbanes-Oxley regime
The Institute of Chartered Accountants in Scotland is calling for the UK to implement a US-style Sarbanes-Oxley regime to increase transparency and improve governance assurance.
March/April
Financial services optimism falls at fastest rate since the financial crisis
Sentiment and volumes are deteriorating sharply in the financial services sector, with various indicators at their lowest since the Financial Crisis of 2008, according to this CBI/PwC Financial Services Survey. Read on for details.
Price cuts in the construction sector put firms at risk warns ICAEW
Lowest-price tendering is forcing contractors to price their work at unrealistically low levels, which is likely to have serious consequences for the construction industry, according to a report by the Institute of Chartered Accountants of England and Wales (ICAEW).
FRC publishes draft Plan and Budget 2019/20
The Financial Reporting Council (FRC) has published its draft Plan and Budget 2019/20, which sets out its priorities for the year and the resources it will need. Read the draft Plan and Budget now.
AI growth adds to audit skills
Technologies such as AI are reshaping the future of IT auditors, but auditors are largely optimistic about the future, according to research from global tech association ISACA.
EBA publishes revised guidelines on outsourcing
The European Banking Authority (EBA) has released revised guidelines on outsourcing arrangements setting out specific provisions for the governance frameworks of all financial institutions within the scope of the EBA’s mandate with regard to their outsourcing arrangements and related supervisory expectations and processes. The guidelines include a specific section on requirements for business continuity planning.
Chartered IIA members gain Global IIA awards
Congratulations to Jennifer Hurley and Percy Mupita, both members of the Chartered IIA, who have been awarded Global IIA awards for achieving some of the world’s highest exam results in their CIA exams in 2018. Read more on their success stories here.
Machine learning creates ethical challenges for accountants
Machine learning and artificial intelligence (AI) is becoming more relevant for many organisations as the hype increasingly becomes reality, according to a report from the Association of Chartered Certified Accountants (ACCA). But the huge opportunities need to be balanced by care to navigate the ethical challenges ahead.
ICAEW calls for ethical framework for big data
The ICAEW has called for a new ethical framework for the use of big data. The lack of one risks undermining the social purpose of financial services, it warned. It called for businesses, consumers and regulators to work together to protect vulnerable people from being exploited by the growing use of data and artificial intelligence.
Web attacks make finance the most targeted sector in EMEA
Finance is once again the most attacked sector in EMEA, according to a report by security company NTT Security. An increase in the number of web attacks on financial organisations pushed business and professional services into second place.
Companies urged to recognise the benefits of whistleblowing
Whistleblowing is central to the plurality of checks and balances that allow businesses to thrive. A new report from ICAEW, "How whistleblowing helps companies", discusses the importance of effective whistleblowing and provides guidance for boards on how to create environments that encourage it.
New technologies drive innovation in banking
Retail bank executives are refocusing their innovation strategies, with 36 per cent looking to build a greenfield digital bank, according to a survey conducted by the Economist Intelligence Unit (EIU) on behalf of software company Temenos.
