IIA Malaysia: Tech skills increasingly vital for internal auditors | Commentary: When the audit and finance committees are combined | Liberian internal auditors receive IIA's CIA training
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17 October 2017
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Internal Audit Watch
Internal audit helps strengthen bank's culture through assessments
Australia and New Zealand Banking Group says internal audit provides the crucial evaluation that the board uses to establish the culture, which can be a challenging thing to regulate. Fahmi Hosain of the Australian Prudential Regulation Authority says that, contrary to a widely held view, culture can be measured and assessed "in a quantifiable sense".
BlueNotes (Australia) (04 Oct.) 
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IIA Malaysia: Tech skills increasingly vital for internal auditors
IIA Malaysia President Hazimi Kassim encouraged internal auditors to stay knowledgeable of technological advances, including big data, artificial intelligence and cryptocurrencies. In addition, IIA Malaysia unveilled an updated Guidance for an effective Internal Audit Function at its 2017 National Conference.
theSun Daily (Malaysia) (09 Oct.) 
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Close the Government Knowledge Gap in October
The IIA is waiving the application fee for the Certified Government Audit Professional® (CGAP®) certification. This certification articulates proficiency and expertise in the ever-evolving public sector auditing environment and provides assurance to key stakeholders. Apply by Oct. 31 to save $230.
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Risk Management
Commentary: When the audit and finance committees are combined
Smaller nonprofit groups sometimes combine the audit and finance committees into one working group while the full board handles certain matters, including risk management, writes Kate Sayer of specialist auditors Sayer Vincent. A combined audit and finance committee should not decide on all issues to avoid becoming a "shadow board," Sayer writes.
Third Sector (Australia) (19 Sep.) 
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Liberian internal auditors receive IIA's CIA training
Twenty-five internal auditors in Liberia received training for The IIA's Certified Internal Auditor Part 1 exam. The two-week course was provided through Liberia's Internal Audit Agency, with backing from the United Nations Development Programme.
AllAfrica Global Media/The Liberian Observer (Liberia) (20 Sep.) 
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Don't Miss Out on Dubai - Register Today & Save!
We are "Connecting the World Through Innovation," at The IIA's 2018 IC in Dubai, UAE, 6-9 May. Program features dynamic "how to" sessions highlighting solutions to keep global audit leaders up to speed with changes in technology. Register Now!
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Regulation & Compliance
Swiss regulator looks to update anti-money-laundering ordinance
The Swiss Financial Market Supervisory Authority has drafted a proposed amendment that would give its anti-money-laundering ordinance more specific obligations for groupwide tracking of legal and reputational risks, stricter know-your-customer requirements and additional risk-classification factors. These changes would apply to banks, asset managers and trust companies.
Lexology (06 Oct.) 
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Singapore might grant ACRA more power over audit firms
The Accounting and Corporate Regulatory Authority could be granted the power to sanction audit firms, says Indranee Rajah, senior minister of state for law and finance.
Channel NewsAsia (Singapore) (03 Oct.) 
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Bookstore Spotlights Catalog
The latest Bookstore Spotlights catalog is available. Browse thought-provoking internal audit resources to build your library, help enhance your job performance, and take your career to the next level. Promotion codes throughout the catalog are valid until 31 December 2017. Shop now.
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Fraud & Ethics
Mexico increasingly adopts anti-corruption measures
Mexico has implemented measures aimed at reducing corruption. The General Law of Administrative Accountability, which became effective in July, covers bribery, embezzlement and obstruction of investigations by public officials as well as by businesses and individuals.
Texas Lawyer (01 Oct.) 
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Chinese watchdog reports anti-graft punishments
More than 1.3 million officials have been punished under the anti-corruption efforts of Chinese President Xi Jinping, according to a Chinese watchdog.
Reuters (08 Oct.) 
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Artificial Intelligence (AI)
Internal auditing must be prepared to provide assurance and advisory services related to AI. There is a framework for that. Read about it in the latest issue of Global Perspectives and Insights. Get your copy today.
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Technology
UK cybersecurity technical director: "Category one" attack on the horizon
UK cybersecurity technical director: "Category one" attack on the horizon
(Rob Engelaar/AFP/Getty Images)
A "category one" cyberattack, the most severe kind, will occur within the next few years, predicts UK National Cybersecurity Centre technical director Ian Levy. To prepare, businesses and agencies need to adjust their outlook on cybersecurity and should set their sights on methods for managing risks.
The Guardian (London) (22 Sep.) 
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Singapore listed as launch leader for cyberattacks
Singapore listed as launch leader for cyberattacks
Singapore (Pixabay)
Singapore ranks as the top originator of cyberattacks in a report by Check Point Software Technologies, although much internet traffic in and out of the country could be launched elsewhere. "As a commercial hub with high interconnectivity, Singapore is undoubtedly an attractive target for cybercriminals," said a spokesman for the Cyber Security Agency of Singapore.
Bloomberg (free registration) (22 Sep.) 
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Earn and Report Your 2017 CPE/CPD Credits
IIA-certified individuals must report credits earned in 2017 by 31 December every year. There's still time to earn credits. Learn more about ways to earn your credits today.
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IIA News
New CPE/CPD ethics requirement
Beginning in 2018, two of every IIA-certified individual's CPE/CPD credits must be earned in ethics. While this is not a requirement for 2017, The IIA is recommending CPE/CPD credits. Learn more about CPE requirements.
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Internal audit's role in assuring accurate board information
Board members have important responsibilities to carry out and key decisions to make. A recent study shows dissatisfaction among many with the data developed and provided by management on which they were charged with making decisions. This is a missed opportunity for internal auditors. Read the latest issue of Tone at the Top to learn how important it is for internal audit to contribute at the front end of that process.
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The test of a vocation is the love of the drudgery it involves.
Logan Pearsall Smith,
writer
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