Cunnington, director of risk assurance for the London International Financial Futures & Options Exchange, will take up his new role in September 2002.
At LIFFE, which is part of the Euronext group, he is responsible for providing both internal audit and enterprise-wide risk management services.
On his appointment Cunnington said: ‘This comes at a time when the value of internal audit in organisations has never been greater. The Institute has an important role in promoting best practice, giving guidance onemerging issues and championing the benefits of internal audit in areas such as corporate governance and risk management.’
The collapse of Enron and the terrorist attacks of 11 September 2001 have greatly increased the profile and importance of internal auditors.
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