PracticeAuditInternal auditors get tough on reform

Internal auditors get tough on reform

Richard Nelson, the new president of the Institute of Internal Auditors - UK and Ireland, has promised that the body will push to assert its influence over the government as it looks at plans to reform assurance and corporate governance practices.

Link: IIA president calls for better risk management

Nelson, who is a member of ACCA, CIPFA and CIMA, also said that the institute will work hard to ensure that company boards improve their internal risk management practices during his tenure. ‘We have to get internal audit seen as the key assurance provider for business and we need to get key government bodies working with us to do this, said Nelson. ‘There has certainly been more of an open door since the problems with companies in the US.’

The former head of audit at British Gas wants to raise awareness of the way that internal audits should be used. ‘The use of internal audit varies from company to company at the moment,’ he said. ‘We would like it to be more focused on the risks a company faces, so that the board gets assurance that those risks are being reviewed.’

The IIA also is looking to rapidly expand its number of members over the coming year and will also introduce a revised standard for the PIIA qualification next year.

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