Assurance for growth
2015 planning priorities for internal audit in financial services
In this paper we explore the key planning priorities that internal audit functions should be covering in 2015, whilst they continue to operate against a backdrop of heightened regulatory scrutiny, emerging best practices and increasing stakeholder expectations.
Internal audit departments in the financial services sector continue to operate against a backdrop of heightened regulatory scrutiny, emerging best practices and increasing stakeholder expectations. We do not expect these challenges to ease in 2015.
As functions develop their plans for the coming year, many of the headline priority areas will be familiar. However, beneath these headlines there are a number of new areas of focus. Many of these are driven by the development of new strategies and business models in response to increased economic confidence, shifting regulatory priorities, and the need for audit functions to build on their prior ‘first-cut’ approaches to topics such as governance and culture.
In planning for 2015, internal audit functions continue to face a number of broader challenges to ensure that their approach to these areas is effective and insightful.