A paper discussing the skill and staff rotation in the Internal Audit Function (IAF) in financial institutions has been published by the ECIIA Banking Committee. The position paper aims to provide guidance to the Internal Audit departments of financial institutions, addressing the following: skills inventory, assessment and development; staff rotation and talent management. Read the publication here.
Due to the vast and fast-paced changes in today’s business environment, alongside new risks, there is an increased need for competent internal audit staff and an adequate IAF. Financial institutions and the banking sector as a whole are significantly impacted and disrupted, further requiring the need for better tools and skillsets from Internal Audit.
The press release is available here.