As internal control functions across European financial institutions become more specialised, interconnected and collaborative, reliance is becoming a growing strategic question for Internal Audit.
This ECIIA Banking Committee webinar will mark the release of the ECIIA paper on Internal Audit reliance strategy in the banking industry. The paper will be presented during the session before being made available on the ECIIA website.
The webinar will explore what reliance means in practice, when it can be considered, and how it can be implemented safely while preserving the independence, accountability and professional judgement of the Internal Audit function.
Speakers will discuss the key prerequisites, constraints and enablers of a reliance strategy, including assurance mapping, assessment of other assurance providers, documentation requirements, governance safeguards, and the need for a progressive approach from coordination to collaboration and, where appropriate, reliance.
The webinar will also highlight why reliance is not simply the reuse of prior work, but a strategic decision requiring strong governance, clear accountability and regular reassessment by Internal Audit.
Participants will gain a clearer understanding of the opportunities and limitations of reliance in banking, and of the practical conditions needed to make it robust, proportionate and aligned with regulatory expectations.
This session will be particularly relevant for Chief Audit Executives, internal audit professionals in the banking sector, risk and control functions, and stakeholders involved in combined assurance and the Three Lines model.
Speakers
- Maria Rontogianni, Chief Internal Auditor, Alpha Bank
- Jonathan Wilson, Chief Internal Auditor, Barclay’s Bank
- Alexandre Maymat, Inspecteur Général, Head of IGAD, Société Générale