Latest blog posts

  • Non-financial and diversity guidance due Spring 2017

    16/12/2016 NEW

    The EC is producing non-binding guidance on how to implement its directive on the disclosure of non-financial and diversity information (2014/95/EU). Originally planned for publication in December 2016, the guidance is now expected in Spring 2017. The directive requires around 6,000 large organisations to disclose the environmental and...

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  • New reporting requirements shift disclosure focus

    16/12/2016 NEW

    The European Union has put plans to introduce country-by-country accounting disclosures on ice. Instead, it is revising the existing Shareholder Rights Directive in a move that could create new opportunities for internal auditors, ECIIA says. The revised directive establishes specific requirements to encourage shareholder engagement in the long...

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  • Getting to grips with non-financial reporting – FEE case study

    06/12/2016 NEW

    The ECIIA welcomes a fictional case study produced by the Federation of European Accountants (FEE) aimed at helping businesses get to grips with the very real, mandatory non-financial reporting disclosure regime set to come into force across Europe. The report – Disclose what truly matters – shows how the...

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  • ECIIA insurance committee to strengthen industry ties

    28/11/2016 NEW

    The ECIIA’s Insurance Committee has set out an ambitious strategy aimed at enhancing the professionalism of internal auditors working in the industry and at building stronger ties between firms, regulators and other stakeholders. “Many insurance companies have greatly benefited from having strong internal audit functions working as the...

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  • ECIIA Activity report: deepening governance community in Europe

    14/10/2016

    ECIIA worked hard in 2016 to deepen its links with both the broader European governance community and its member institutes, according to its most recent Activity Report. The Confederation strengthened its co-operation with rule-setters at the European Banking Authority, the European Central Bank and the European Commission through...

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  • ECIIA strengthens governance structure

    13/10/2016

    The European Confederation of Institutes of Internal Auditing strengthened its governance structure by creating both an audit committee and nomination committee at it General Assembly in Stockholm, Sweden this month. “Our organisation promotes good governance through internal audit,” Henrik Stein, who continues as ECIIA President, says, “so it...

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  • Non-financial reporting proposals move a step closer

    06/10/2016

    The European Commission’s DG FISMA has provided greater clarity over the likely content of its proposed guidelines on non-financial reporting, following meetings with ECIIA in September. Officials at the directorate have confirmed non-financial reporting mechanisms should form part of the overall management reporting system, and that its scope...

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  • Internal audit’s central role in the future of corporate reporting

    28/7/2016

    Internal audit has a central role to play in the future of corporate reporting as an adviser on, and a builder and consolidator of the reporting process itself, according to the ECIIA’s response to a consultation on the issue by the Federation of European Accountants (FEE). “Internal audit...

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  • Meeting the challenge of tax reporting

    12/7/2016

    Internal auditors can provide boards with help and assurance that the European Union’s new rules on tax reporting have been properly implemented in their enterprises, according to speakers at a recent co-hosted ECIIA event at the European Parliament on the issue. “As the third line of defence in...

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  • Audit committees must balance independence with competence

    06/7/2016

    Audit committees must balance their ability to be independent with the right level of competence if they are to effectively challenge management, according to attendees at a recent event organised by European Confederation of Directors Associations (Ecoda) and Pwc. “Too much independence for audit committee members could come...

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