Do you know your limits?
Internal Audit in Financial Services: Risk Appetite
In our paper, Risk Appetite & Assurance, we present our perspectives on emerging consensus regarding what constitutes an effective risk appetite framework for Internal Audit functions.
Risk appetite was identified in our 2014 Hot topics for internal audit in financial services publication as an area of regulatory focus.
In this paper, we present our perspectives on an emerging consensus regarding what constitutes an effective risk appetite framework. It also considers the implications for Internal Audit functions of the Financial Stability Board’s consultation paper: Principles for an Effective Risk Appetite Framework. Additionally, the paper contains our perspective on how Internal Audit functions can leverage an effective risk appetite framework to enhance their own activities.
Financial Services Internal Audit
As internal controls and risk management continue to make headlines for the financial services industry, demands being placed on Internal Audit functions have never been greater. Our mission is to help Internal Audit departments to provide independent, valuable and timely assurance over the effectiveness of governance, risk management and internal controls. We use the extensive in-depth knowledge of our global financial services expertise to Internal Audit teams, and with this knowledge provide valuable insight through our topical publications.