Ghana's health care industry faces internal auditor shortage | Japan's banking lobby head urges more accountability in risk management | Anti-corruption activist elected Slovak president
16 April 2019
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Internal Audit Watch
Pakistani central bank introduces internal audit guidelines
Financial institutions in Pakistan now have a uniform framework designed by the country's central bank to help them put effective internal audit governance into place. The State Bank of Pakistan is calling on institutions to be in compliance with the guidelines by the end of 2019.
Business Recorder (Pakistan) (12 Apr.) 
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Ghana's health care industry faces internal auditor shortage
Only 183 of Ghana's more than 500 public health care facilities have internal auditors, said Kwabena Hemeng-Ntiamoah, the Ghana Health Service's director of internal audit. The sector has been struggling with losses from fraud, waste, accounting irregularities and other issues, officials said.
MyJoyOnline (Ghana) (02 Apr.) 
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Risk Management
Japan's banking lobby head urges more accountability in risk management
Japanese banks whose investment returns have declined after a loosening of risk management should not attribute the struggling performance to the Bank of Japan's monetary policy, said Makoto Takashima, chairman of the Japanese Bankers Association. "Each bank should be responsible for their risk appetite to respond to their customer needs and boost revenue," he said.
Reuters (31 Mar.) 
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Nominate a 2019 Emerging Leader
The quest is on for tomorrow's internal audit leaders. Do you know a high performer who possesses the qualities to become a thought leader in the industry? Is it you? Internal Auditor magazine will recognize up-and-coming internal audit professionals in its October issue showcase feature. Nominate yourself or someone else by May 10.
Regulation & Compliance
Anti-corruption activist elected Slovak president
Zuzana Caputova, a pro-environment, anti-corruption lawyer and political novice, has been elected the first female president of Slovakia. Caputova said her first priority is to make Slovakia "a reliable and predictable partner of the European Union".
Politico (01 Apr.),  Financial Times (subscription required) (31 Mar.),  The Wall Street Journal (tiered subscription model) (31 Mar.) 
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Vietnam implements internal audit decree
A decree that took effect in Vietnam this month requires state-owned authorities, public service organisations and privately listed companies to put internal audit practices into place. The decree does not outline precise steps such entities must take to comply, but does encourage the adoption of internal control and risk-management systems.
Vietnam Briefing (29 Mar.) 
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Consultants warn of MiFID II reporting errors
More than 1,300 investment firms filed transaction reports for 2018 under Europe's revised Markets in Financial Instruments Directive that contained errors, according to regulatory consultancy Bovill. "Given how common reporting errors are among firms that are MiFID II-ready, companies that haven't detected any should be wary," said Bovill managing consultant Damon Batten.
Citywire (10 Apr.),  Investment Week (UK) (09 Apr.) 
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Fraud & Ethics
Colombian inspector general discusses global anti-corruption efforts
Colombian Inspector General Fernando Carrillo said international collaboration needs to improve with regard to anti-corruption efforts. "There exist new forms of corruption that are a lot more sophisticated than in the past, and we need to respond with adequate tools and policies at the local and international levels," he said.
Americas Quarterly online (04 Apr.) 
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Internal audit identifies alleged scam in India's electricity distribution
An internal audit has led to allegations that contractors providing outsourced workers to Indian-owned electricity distribution company Dakshinanchal Vidyut Vitran Nigam had withheld a portion of employees' provident fund, state insurance and dues. The alleged scam totalled 30 lakh rupees.
The Times of India (09 Apr.) 
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UK issues report critical of Huawei's cybersecurity practices
A report released by British officials draws attention to Huawei's cybersecurity track record and says the company has failed to stand by its promise to implement companywide cybersecurity policies. Huawei said the report highlights the effectiveness and rigorous nature of the UK's cybersecurity oversight.
Politico (29 Apr.) 
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New Practice Guide on Assessing the Risk Management Process.
The IIA's newest practice guide helps chief audit executives navigate a changing and evolving risk management paradigm, while delivering on expectations. It provides guidance on how internal audit can evaluate the effectiveness and contribute to the improvement of risk management processes. Get your copy now.
IIA News
May is International Internal Audit Awareness Month
As an internal audit professional, you play an important role in raising awareness of the profession. Whether you're involved in your local chapter, new to the field, part of an extensive audit team, or your organisation's sole practitioner, there's something you can do to elevate the profession. Learn more and access tools to advocate in May.
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Assessing the risk-management process
A new practice guide from The IIA addresses how to evaluate, and contribute to the improvement of, risk-management processes. It covers ways to communicate assurance and insight to management and the board on effectiveness, maturity level, and related issues and challenges. Free member download.
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[Human evolution] just got even messier, more complicated and a whole lot more interesting.
Matt Tocheri,
anthropologist, about the recent discovery of a previously unknown human species
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