Latest blog posts

  • 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 NEW

    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 NEW

    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 NEW

    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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  • EU’s non-audit “blacklist” services include internal audit

    29/6/2016

    Internal audit is now officially on a “blacklist” of services that accountancy firms are forbidden from providing to their statutory audit clients. The EU’s revised Statutory Audit Directive and its Regulation include measures aimed at strengthening auditor independence, compulsory auditor rotation, a broader role for the audit committee and...

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  • Jury still out on EU regulatory reforms

    16/6/2016

    The combined effectiveness of the various regulatory reforms made in the financial sector following the crisis of 2007-8 are unknown, according to respondents to the EU’s recent review of the issue. Some attendees at a meeting in May, following the EU’s Call for Evidence on EU regulatory framework...

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  • Starting gun fired for EU data regulation compliance

    25/5/2016

    The European Union has published the final draft of its long-awaited Directive on General Data Protection and the General Data Protection Regulation (GPDR) that enforces it –  giving internal auditors two years to help organisations prepare. “The publication of these documents is the starting gun for companies to...

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