Whitepaper

IIA institute internal audit

Hot topics for internal audit 2018

24 September 2017

This year, a wider group of European Institutes of Internal Auditors have taken a more ambitious approach, interviewing Chief Audit Executives (CAEs) from major organisations in six European countries – France, Italy, the Netherlands, Spain, Switzerland and the UK – to home in on key themes requiring the attention of internal audit to mitigate risk and protect and add value in their organisations.

These Hot Topics were identified through in-depth, qualitative interviews with CAEs across a diverse range of critically important sectors – construction/infrastructure, financial services, IT, manufacturing, public sector, retail/consumer, telecoms and utilities/energy – and from organisations that truly lead these industries. To put this into perspective, these organisations have an aggregate market capitalisation in excess of €724bn, revenues of over €441bn, employ more than 1.86 million staff and are present in no less than 173 countries. In the financial services sector alone, the CAEs represent internal audit functions in firms collectively worth €325bn and turning over upwards of €207bn.

This whitepaper provides knowledge and insights as an invaluable snapshot of the thinking of leading internal audit professionals across Europe.

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ECB: new unsecured overnight interest rate

22 September 2017

Overnight benchmark interest rates are important for financial markets and monetary policy implementation. ECB overnight rate will complement existing benchmark rates produced by the private sector and serve as a backstop to private sector benchmark rates. The preparations for rate to be finalised before 2020, including industry consultation.
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Strong outlook with low inflation spurs risk-taking

20 September 2017

Something here Low inflation despite a stronger economic outlook helped push markets up in recent months and reduced the expected pace of tightening of monetary policy in major economies. Signs of increased risk-taking have become apparent in a number of areas, including narrow credit spreads, increased carry trade activity and looser bond covenants. Continue reading…

Steps to driving better business decisions

17 September 2017

Are you using operational risk management (ORM) as an organizational imperative? Effective management of operational risks will increase C-suite visibility and encourage more informed risk taking. Integrating ORM strategy, tools, and processes into your organizational goals will lead to improved product performance, greater brand recognition, and deliver sustainable financial results.
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FCA makes Market Investigation Reference for investment consultancy services

15 September 2017

The Financial Conduct Authority (FCA) has confirmed its final decision to make a Market Investigation Reference (MIR) to the Competition and Markets Authority (CMA) in relation to investment consultancy and fiduciary management services.  This is the first time that the FCA has made such a reference to the CMA.
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Consumer warning about the risks of Initial Coin Offerings (‘ICOs’)

14 September 2017

The term ICO refers to a digital way of raising funds from the public using a virtual currency, also known as cryptocurrency. An ICO can also be known as ‘token sale’ or ‘coin sale’. ICO issuers accept a cryptocurrency, like Bitcoin or Ether, in exchange for a proprietary ‘coin’ or ‘token’ that is related to a specific firm or project. ICOs vary widely in design. The digital token issued may represent a share in a firm, a prepayment voucher for future services or in some cases offer no discernible value at all. Often ICO projects are in a very early stage of development.
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