2018 IIA International Conference to take place in Dubai | More regulatory scrutiny may face non-EU money managers post-Brexit | PBOC to ramp up oversight of systemically important firms
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15 August 2017
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Internal Audit Watch
2018 IIA International Conference to take place in Dubai
The IIA's 2018 International Conference is scheduled for four days in May in Dubai, United Arab Emirates. More than 3,500 auditors from 110 countries are expected to attend the event, where participants will focus on innovation and discuss the latest developments in internal auditing.
WAM (United Arab Emirates) (31 Jul.) 
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Commentary: Regulators expect to see "culture of compliance"
Training is not enough to give employees a sense of how to behave, lawyers Davit Akman and Robert Russell write. Regulatory agencies, such as the Canadian Competition Bureau, increasingly want to see a "culture of compliance" that is supported by strong internal controls and that offers incentives, Akman and Russell write.
Lexology/Borden Ladner Gervais (20 Jul.) 
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More regulatory scrutiny may face non-EU money managers post-Brexit
The European Securities and Markets Authority's opinions regarding UK money managers' post-Brexit moves to EU member states could subject non-EU firms to a higher regulatory burden in terms of internal controls, due diligence and other requirements. "Anecdotally we are already hearing of overseas regulators taking a more exacting position to firms looking to implement Brexit contingencies," lawyer Philip Spyropoulos said.
Pensions & Investments (free access for SmartBrief readers) (07 Aug.) 
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Becoming a relevant partner through combined assurance.
Many departments have taken on an advisory role to help deepen trust in auditors as risk and control experts. Within internal audit, we have an opportunity to assume the role of relevant partner through the process of combined assurance.
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Risk Management
PBOC to ramp up oversight of systemically important firms
The People's Bank of China hopes to defuse risk in the financial system by bolstering coordinated oversight of financial institutions seen as systemically important. The central bank also plans to monitor how funding in its financial system is affected by global markets and will restrict credit to speculative housing purchases.
Bloomberg (11 Aug.) 
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A Standards Practice Makes Perfect Sense
As internal auditors, we try to make sense in an increasingly imperfect world. We don't want to find problems, but if we do, we rely on a framework of principles and standards to follow. The IIA's global experts develop, document, and deliver the Standards to help all internal auditors be more effective and aligned. Be a Leader in Following the Standards.
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Regulation & Compliance
UK's Data Protection Bill would impose fines for mishandled data
UK's Data Protection Bill would impose fines for mishandled data
(Pixabay)
The Data Protection Bill proposed in the UK would fine companies that mishandle customer data. Under the bill, "explicit" consent would be required for the use of personal data, including IP addresses and cookies.
TechRepublic (07 Aug.) 
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#PurposeServiceImpact
Tune into The IIA's 2017-18 Global Chairman of the Board J. Michael Peppers' theme. He hopes his hashtag will resonate with IIA members and encourages internal auditors to identify with and unify around the three powerful concepts.
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Fraud & Ethics
Global survey examines pressure to compromise ethics amid tech trends
A worldwide survey by the Association of Chartered Certified Accountants highlights the ways accountants and businesses grapple with ethical issues relating to technology. Among respondents, 77% described ethics as a very important skill, while 20% said they'd been pressured to compromise their ethics during the past 12 months.
Accounting Today (10 Aug.) 
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Expert: Brazil emerging as a leader in anti-corruption
Brazil's major anti-bribery enforcement action against multinational conglomerate Odebrecht shows that emerging economies are increasingly exposing and prosecuting corruption, said Andy Spalding, professor of law at the University of Richmond. Brazil is also harnessing its new status to work with Peru and other Latin American countries to battle corruption.
Breakbulk Events & Media (13 Aug.) 
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Commentary: How unethical conduct arises
Misconduct can often be traced in part to a compensation system that rewards short-term success, writes Christian Conrad, who teaches economics and business ethics at Germany's Saarland University of Applied Sciences. Ethics in management, meanwhile, "must set an example by adhering to values, rewarding ethical behaviour and punishing violations", Conrad writes.
Handelsblatt (Germany) (free content) (10 Aug.) 
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Bookstore Spotlights Catalog - Save on Resources Through December
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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Technology
Exec: Shift to XBRL is occurring worldwide
XBRL International CEO John Turner said his organisation's standard, eXtensible Business Reporting Language, is making inroads in markets globally. Regulators overseeing banking, insurance and pensions in Asia and Europe have been especially active in adopting the data-tagging code, Turner said.
Accounting Today (28 Jul.) 
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Strengthen Your Core
As The IIA's premier designation for more than 40 years, the CIA sets the standard for excellence within the profession. Establish your foundational core for career growth and opportunity.
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IIA News
New global chairman message: #PurposeServiceImpact
The IIA 2017-18 Global Chairman of the Board J. Michael Peppers hopes his hashtag will resonate with IIA members and encourages internal auditors to identify with, and unify around, the three powerful concepts. Learn more about Peppers' theme for 2017-18.
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Insight that internal audit brings to cybersecurity culture
After so many years of often devastating cybersecurity failures, why do organisations still get caught short when an attack is launched? Read the latest issue of Tone at the Top to learn how an organisation can improve its cybersecurity culture through better collaboration among internal audit, IT, chief risk officers, chief information security officers, human resources and others. Download and share with your audit committee and senior management.
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Happiness is the consequence of personal effort.
Elizabeth Gilbert,
writer
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