Assurance

ECIIA-Blog-header
Examining the links between internal and external auditing
November 2013 Left to right: Nathalie Berger – Head of Unit, Audit and Credit Rating Agencies, DG MARKT/F4 at the European Commission; Marie Hélène Laimay – ECIIA Vice President; Sajjad Karim – MEP; and Isabelle Tracq-Sengeissen – CNCC Auditing Standard Board Vice President

With audit reform on the agenda at the European Commission, the ECIIA participated in a timely round table discussion on the issue of how to improve interaction between external and internal audit.

“Good coordination between internal and external audit adds real value and increases the effectiveness of corporate governance,” Marie Hélène Laimay, ECIIA Vice President, said at the event. “Organisations should not see the exercise as a cost burden because it opens the road to increased transparency for stakeholders.”

Nathalie Berger, Head of Unit, Audit and Credit Rating Agencies, DG MARKT/F4 at the European Commission, said that one of the lessons from the financial crisis was that standards about relations between internal and external auditors were not standardised in the European Union. She explained the enhanced role that audit committees would have to help coordinate the two functions under the proposed reforms.

Isabelle Tracq-Sengeissen, CNCC Auditing Standard Board Vice President and a member of FEE’s Auditing Working Party, said that the key success factors for effective collaboration included, open dialogue, coordination and good communication, especially in the early stages of the audit process.

Sajjad Karim MEP hosted the event, which took place on 12 November 2013 in Brussels.

Read the ECIIA’s position paper: Improving cooperation between internal and external audit

View Marie Hélène Laimay’s presentation

View Nathalie Berger’s presentation 

View Isabelle Tracq-Sengeissen’s presentation

Theme author: Web developer Front End Developer Wordpress developer Web developer Front End Developer Wordpress developer Notariusz Szczecin