The papers cover a range of topics including internal audit’s role in good governance, audit planning, auditing a group of institutions, auditing outsourced operations, and follow-up monitoring on audit recommendations.
These five position papers are intended as best practice guides to internal auditors and their organisations in a range of areas. Taken together the recommendations in these documents should enhance the ability of internal auditors to give boards and senior managers independent and objective insights into the overall internal control systems and risk management at their institutions.
The papers have been produced by ECIIA’s banking committee, which was set up in 2014 with Chief Audit Executives of European Central Bank Supervised Banks. The documents address issues that require clarification due to recent changes in the way financial institutions are regulated. They are offered as best practice to be adopted or adapted by banks depending on their size, culture and local requirements.
Because of its position as the third line of defence, internal audit is uniquely positioned to act as a trusted advisor to the board because of its clear understanding of the business’ organisation, mission, vision, strategy and long-term goals.
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Internal audit’s role in good governance
Audit planning approach
Internal audit within a group
Internal audit oversight of external outsourcing
Follow-up monitoring
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