2018 planning priorities for internal audit in financial services

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2018 planning priorities for internal audit in financial services

Institute of Internal Auditors (IIA), Luxembourg - November 2017

2018 planning priorities for internal audit in financial services

The regulatory environment is in constant evolution, bringing new challenges every day for internal control functions including internal audit.

Internal audit, more than ever, has to play a critical role in the success of the organisation by detecting regulatory or internal control breaches that could impair the robustness of the Bank’s internal control mechanisms and to a certain extent its reputation. In this context, we have highlighted below key and common regulatory and business topics we believe should be addressed within the internal audit plan of Luxembourg banking institutions with an emphasis on subject / activities that are required to be reviewed on an annual basis by the internal audit function in light of the applicable regulatory requirements and EU guidelines. This list does not intend to be exhaustive but rather to give a sound basis to internal audit practitioners in the preparation of their 2018 internal audit plan.

2017 planning priorities for internal audit in financial services

An Internal Audit viewpoint - Building Trust

The financial services sector continues to operate in an environment of change due to continued advances in technology, adoption of new regulations, and competition from new entrants to the sector.

In an era of continued challenge around conduct and behaviour for financial institutions, regulators and boards are more aware of the issues and prepared to act accordingly. While stakeholders expect more forward-looking insight around risk, strategy and business performance the expectation on Internal Audit to make an impact is now.

This report takes a detailed look at what internal audit should do to address these changes and assesses the impact on audit approaches, methodologies, and resource models.

2016 planning priorities for internal audit in financial services

An Internal Audit viewpoint - Exponential Change

The financial services sector continues to operate in an environment of change due to continued advances in technology, adoption of new regulations as well as competition from new entrants to the sector.

This report takes a detailed look at business leadership, risk management, regulatory matters, capital and liquidity considerations, trading, IT as well as accounting and tax to see how the requirements, challenges and strategies of internal audit teams will need to accommodate.

In this paper we explore the key planning priorities that internal audit departments should be covering in 2016.
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