Latest blog posts

  • EC to update non-financial reporting directive

    29/10/2018 NEW

    The European Commission (EC) is planning to update its non-binding guidance on how to implement the Non-Financial Reporting Directive and set out proposals for consultation in June 2020. The directive, which affects about 6000 companies in Europe, sets out how organisations can effectively communicate the environmental, social and ethical impacts...

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  • ECIIA response to the European Commission consultation ‘Fitness check on the EU framework for public reporting by companies’

    16/10/2018 NEW

    ECIIA welcomes the Commission’s fitness check initiative on the EU framework for public reporting by companies. We believe that the objective of this fitness check on corporate reporting should be to simplify and better tailor the information provided to the need of creditors, investors, and shareholders, instead of creating...

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  • ECIIA General Assembly 2018

    08/10/2018

    The ECIIA General Assembly took place on October 6 in Madrid. The Board of Directors has welcomed a new representative for Italy: Gianfranco Carolia,  Chief Audit Executive of Ferrovie dello Stato Italiane S.p.A., Member of the Audit Committee of FAO, Founding member of AITRA, Member of the Audit...

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  • EBA’s draft regulations on outsourcing need tighter focus

    28/9/2018

    The European Banking Authority’s (EBA) draft Guidelines on outsourcing (EBA/CP/2018/11) should give more emphasis on the role of the first and second lines of defence in the oversight of outsourced activities, ECIIA has said in its written response to the consultation. More specifically speaking, the response continued, management should...

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  • Risk in Focus 2019: Hot topics for internal auditors

    03/9/2018

    We are happy to share the third edition of Risk in Focus defining hot topics for Internal Auditors. This edition is the result of a collaborative effort between seven European institutes of internal auditors in France, Germany, Italy, the Netherlands, Spain, Sweden and the UK and Ireland. As...

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  • Internal auditors playing greater role in insurance regulation

    22/6/2018

    Insurance regulators and supervisors across Europe are increasingly looking to internal auditors to help their organisations achieve the necessary compliance requirements, according to a recent meeting of ECIIA’s insurance committee in Stockholm, Sweden. While trends in supervision and regulation differ across Europe, many authorities are looking for insurers...

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  • ECB internal models guide should clarify assurance responsibilities

    04/6/2018

    While ECIIA welcomes the European Central Bank’s (ECB) draft guide on internal models for financial services organisations, more clarity is needed in some areas over the role of internal audit and other assurance functions. In response to the ECB consultation on its proposed guidance, ECIIA has highlighted several...

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  • GDPR moves into the next phase

    24/5/2018

    Europe’s General Data Protection Regulationcame into effect on 25 May after a mammoth effort by organisations throughout Europe and beyond to prepare for the launch date. The regulations give greater protection for individuals over how their data can be collected, processed and retained. While internal auditors in many...

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  • Over disclosure of information could erode stakeholder trust

    02/5/2018

    In the rush to comply with pressure to disclose ever-increasing levels of non-financial information, companies could inadvertently erode stakeholder trust by publishing too much data, delegates heard at the 22nd European Corporate Governance Conference in Sofia this April. Since statutory auditors in Europe – with the exception of...

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  • EU announces ‘fitness check’ for public reporting framework

    29/3/2018

    The ECIIA has welcomed the launch of a ‘fitness check’ consultation on the EU’s public reporting framework for companies. The consultation will look at whether the framework is fit for purpose, is relevant for meeting the EU’s objectives and adds value at a European level. It will also...

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If you have any questions on Sustainable Finance, you have some experts ready to answer you! #SustainableFinanceEU

“It’s not only about reporting, what is it important is to change the way we think”, Olivier Boutellis-Taft #PublicReportingEU #InternalAudit #governance

The future of corporate reporting in a digital & sustainable economy conference has started, with the words of Mario Nava #PublicReportingEU #InternalAudit #Governance

The fourth annual report on the implementation and effects of the G20 financial regulatory reforms has been launched by @FinStbBoard . The report is available here: https://t.co/pvako7QwDE #internalaudit #Governance

Fighting fraud and financial crime “it’s more about understanding people than understanding technology”, said David Herbinet. #zerofincrime #internalaudit #governance

“There is a need for collaboration to fight fraud: internal audit compliance, we can not do it alone” Rene Bruelhart #zerofincrime #internalaudit

#zerofincrime #internalaudit

We are attending the Governance and fighting fraud financial crime in the digital era conference, organised by @AccountancyEU ! #zerofincrime #internalaudit

We have participated in the 2018 Excellence in Risk Management Awards, organised by @FERMARISK . ECIIA congratulates all the winners! #euroriskawards

"Regulators are set to exercise their new powers by handing out fines and even temporary bans on companies that breach a new EU privacy law"
Check the article from @EURACTIV : https://t.co/KwE8drkhk6 #GDPRCompliance #Internalaudit

#CoorporateReporting #InternalAudit

“Internal audit is the ears and eyes of the good governance”, said Farid Aractingi, ECIIA President, at the event "Internal Audit in Municipalities", in Athens. #internalaudit

ECB - EBA stress test shows euro area banks are more resilient to financial shocks. The 3 top risks identified are: geopolitical uncertainties,NPL and cybercrime and IT disruptions. #riskmanagement

#riskmanagement

EC to update non-financial reporting directive - https://t.co/ndvVu2Cgdx

The EBA has published the work for 2019, defined under five strategic areas and 37 activities. #internalauditinbanks https://t.co/1rvc7rKS0g

ECIIA participated to the Stakeholders meeting on non-financial disclosures organised by DG Fisma. Some participants have argued that the overall effectiveness of the NFR Directive will be limited by the absence of a strong assurance and verification requirement #internalaudit

ECIIA response to the European Commission consultation 'Fitness check on the EU framework for public reporting by companies - https://t.co/Pitl5ZUnCV

The banks are safer thanks to the @EU_SRB but it is still very important to manage the risk and to anticipate the early signs. That's why internal audit is essential. #srbResolution2018 #internalaudit https://t.co/I9dxgZ0YXJ

#CyberSecurity is one of the top 10 risks identified by internal auditors for 2019. Check @FERMARISK interesting guide below. #internalaudit #CyberSecMonth

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