The state-owned Industrial Development Bank of India is conducting a quality assurance audit to strengthen its internal audit function, ensure adherence to best practices and determine whether its branches are complying with regulations. The move comes as India's public-sector banks face pressure to enhance their audit systems in the wake of recent fraud identified at Punjab National Bank.
Are you coordinating the Three Lines of Defense? The recently revised IIA Standard 2050: Coordination places stepped-up pressure on CAEs to coordinate activities with other internal and external providers of assurance. This report provides both theory and practical application for maximizing your interactions with other assurance providers.
The Nigerian government said it sees room for improvement in its whistleblower policy, which officials plan to review with an eye toward preventive measures rather than punitive ones. The Whistleblower Policy and Assets Tracing Team travelled to the UK to share ideas with governmental agencies there.
The European Commission has proposed letting consumers harmed by corporate misconduct file class-action lawsuits, a tool widely used in the US. The proposal is part of a legislative package called the New Deal for Consumers.
It is Almost Here! The 2018 International Conference in Dubai is almost here. Don't miss your chance to network and learn from internal auditors and industry leaders from around the globe. Register Today!
All Canadian government departments have received a request to let the Treasury Board circumvent internal controls to provide paychecks to federal employees if a payroll-processing emergency occurs. This open-ended approval would remain in force until at least 2021.
Governance and sharia standards for Islamic endowments developed by the Accounting and Auditing Organisation for Islamic Financial Institutions are set to debut soon. These standards are expected to introduce guidance on internal controls, transparency and disclosures.
Central bank governors from France, the Netherlands and the UK have agreed more regulation might be necessary to address climate-change risk in the financial system. Potential measures include carbon stress tests and heavier penalties.
Several Brazilian Supreme Court justices have expressed willingness to reverse a 2016 decision under which defendants face imprisonment if their graft convictions are affirmed during a first appeal. Former President Luiz Inacio Lula da Silva was jailed this month after being convicted in a corruption trial and is among several politicians and businesspeople serving time because of the 2016 decision.
A bill introduced in Malaysia would revise the Malaysian Anti-Corruption Commission Act 2009 to make corporations liable for offenses committed by an associated person. The UK Bribery Act was a model for the proposed measure.
The Irish Parliament is considering legislation that would consolidate seven anti-corruption acts. The bill also would add a provision holding a corporation accountable if one of its officers, employees, agents or subsidiaries committed an offence under the updated act.
The US Justice Department has indicted nine Iranian hackers after a three-year campaign in which universities were attacked. The hackers allegedly stole more than $3 billion in intellectual property from more than 300 universities worldwide.
Internal Audit in the Age of Disruption A challenge for internal audit executives is to perceive disruptions in their true form. Recognizing what is coming and providing insight to the organization on how to harness disruptive power is truly valuable. Learn more.
Cast your vote on The IIA's proposed governance structure
A global membership vote on proposed changes to The IIA's governance structure will be conducted during The IIA's 2018 Annual Business Meeting on 9 May in Dubai. If you are unable to attend this meeting, you may vote by proxy by 30 April. Access the bylaw changes and vote.
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