IIA ja ECIIA blogidest

07.08.2020 - 06:32

Mike Jacka

You Can't Handcuff a Customer

​Customers will always have a choice, no matter how an organizaiton tries to force them to stay. 

04.08.2020 - 06:35

Mike Jacka

Travel, Insurance, Bailouts, and Customers

​In helping the organization navigate the current crisis, internal audit should also help ensure the customer is considered. 

03.08.2020 - 13:45

ECIIA

EIOPA: key financial stability risks of the European insurance and pensions sector

The European Insurance and Occupational Pensions Authority (EIOPA) published its July 2020 Financial Stability Report of the (re)insurance and occupational pensions sectors in the European Economic Area.

During the last months, the Covid-19 outbreak further proved the importance of the...

03.08.2020 - 13:36

ECIIA

European Commission: feedback report on the NFRD consultation

The European Commission has just issued the feedback report on the recent consultation on the Non-Financial reporting...

29.07.2020 - 12:12

ECIIA

EIOPA: Impact of ultra-low yields on the insurance sector, including first effects of COVID-19 crisis

Insurers are significantly challenged in terms of asset allocations, profitability, solvency and business model adaption. The low-interest rate environment was and still is, also after Covid-19, one of the main issues for the insurance market.

Given this context, the report assesses...

29.07.2020 - 12:05

ECIIA

ECB: Report on preparations for benchmark rate reforms

The ECB published a report on preparations for benchmark rate reforms. The purpose of this report is to share good practices that the ECB...

28.07.2020 - 16:58

ECIIA

White Paper on Artificial Intelligence: Public consultation towards a European approach for excellence and trust

The European Commission has just issued the consolidation of the feedback of the consultation where ECIIA has also participated.

...

28.07.2020 - 12:51

ECIIA

ECB: Annual report on the outcome of the SREP IT Risk Questionnaire – Feedback to the industry

In the light of the European Banking Authority (EBA) Guidelines on ICT Risk Assessment under the Supervisory Review and Evaluation process (SREP), ECB Banking Supervision together with the National Competent Authorities developed a dedicated SREP IT risk assessment methodology. This includes the...

28.07.2020 - 12:13

ECIIA

Best practices: measures offered to consumers and businesses in the context of COVID-19 crisis

The European Commission has welcomed a list of ‘best practices’ agreed by the financial sector, and consumer and business organisations, to help further mitigate the impact of the coronavirus pandemic. It sets out concretely how different market participants can support citizens and...

28.07.2020 - 07:20

Mike Jacka

Erratic Boulders

​Everything we learn has value, even if we don't immediately know what that value may be.

27.07.2020 - 15:52

Richard Chambers

Understanding the Roots in Internal Audit's Response to COVID-19

One of the clearest threats to quality is in failing to dig deep enough to expose the root causes of control failures and weaknesses.

24.07.2020 - 07:51

Mike Jacka

Improvising Internal Audits

​Letting go may be the best way to achieve the best results.

23.07.2020 - 17:54

ECIIA

Coronacrisis: actions for the public sector

The coronavirus crisis has resulted in the most rapid deployment of government financial resources outside of major wars. Most governments have produced support programmes with admirable speed.

Accountancy Europe provides ideas on how the public sector can counter the crisis’ impact on...

23.07.2020 - 14:33

ECIIA

EBA: overview of public guarantee schemes issued in response to the Covid-19 pandemic

The European Banking Authority (EBA) published a list of the public guarantee schemes issued in response to the COVID-19 pandemic. This publication, which complements the information included in the ...

22.07.2020 - 17:06

ECIIA

Internal Audit’s response to COVID-19 in Europe

The COVID-19 pandemic has been disruptive around the world. Internal auditors have a unique opportunity to step up in the face of unprecedented risks. In the latest “insights and Advice” video, IIA Spain CEO, Javier...

22.07.2020 - 16:34

ECIIA

Welcoming Bulgaria & Croatia to European banking supervision

Bulgaria and Croatia are joining European banking supervision as the ECB establishes close cooperation with their national supervisory authorities.

The ECB will start supervising significant Bulgarian and Croatian banks on 1 October 2020 after the significance assessment.

...

21.07.2020 - 06:35

Mike Jacka

The Curse of Success

​Success often tries to breed success...unsuccessfully.

20.07.2020 - 13:49

ECIIA

EIOPA responds to the European Commission’s consultation on a renewed sustainable finance strategy

The European Insurance and Occupational Pensions Authority (EIOPA) submitted its response to the consultation of the European Commission on a renewed sustainable finance strategy.
 
EIOPA strongly supports the work that is being undertaken by the European Commission to promote a...

20.07.2020 - 12:39

ECIIA

What is the impact of COVID-19 on Boards?

Ecoda’s webinars | summary of the main discussions*

1.    Ethics remain a “driving force” 

Companies with strong ethics have created a relationship of trust with their stakeholders...

20.07.2020 - 12:17

ECIIA

EBA supports EU Commission’s actions towards a more sustainable European economy

The European Banking Authority (EBA) published its response to the European Commission’s consultation on a Renewed Sustainable Finance Strategy.

In its response, the EBA agrees with a wide range of possible EU-level actions to support financing of the transition to a more sustainable...

20.07.2020 - 11:56

ECIIA

European Commission: NIS Directive Roadmap consultation

The article 23 of the NIS Directive requires the European Commission to review its functioning periodically. As part of its key policy objective to make “Europe fit for the digital age” as well as in line with the objectives of the Security Union, the Commission announced in its Work Programme...

20.07.2020 - 05:13

Richard Chambers

New IIA Three Lines Model Offers Timely Evolution of a Trusted Tool

The model promises to change the way many organizations look at risk, controls, collaboration, communication, accountability, assurance, and more.

17.07.2020 - 06:35

Mike Jacka

Independence and Objectivity; the Department and the Person

​Determining if an issue relates to independence or objectivity really hinges on a simple concept.

15.07.2020 - 14:39

ECIIA

European Court of Auditors: new report

European Court of Auditors recommends that Commission review methods of monitoring EU climate-related expenditure.

European Union spending on climate action risks being overestimated in the absence...

13.07.2020 - 15:44

Richard Chambers

COVID-19 Demands Audit Committee Effectiveness: 6 Recommendations

Heads of audit should be looking at these recommendations and thinking about how they can help their audit committee improve in each area.

10.07.2020 - 07:17

Mike Jacka

Learning From the Past While Watching the Future

​Look to the past for risks that have been missed, but look to the future for ones that are coming.

08.07.2020 - 16:01

ECIIA

EBA: implementation of the prudential framework in the context of COVID-19

The European Banking Authority (EBA) published a report, that provides clarifications on the application of the prudential framework that have been raised as a consequence of the COVID-19 pandemics. This report is part of the EBA’s wider monitoring of the implementation of COVID-19 policies as...

07.07.2020 - 12:18

ECIIA

BIS: Basel Committee finalises AML/CFT supervision guidelines

The Basel Committee on Banking Supervision issued the updated version of its guidelines on Sound management of risks related to money laundering and financing of terrorism, with guides on the interaction and cooperation between prudential and anti-money laundering and combatting the...

07.07.2020 - 07:19

Mike Jacka

NOT a Declaration of Independence

​Many internal auditors misunderstand and misuse the concept of independence.

06.07.2020 - 15:47

Richard Chambers

Persuading Internal Audit Clients Just Got Harder

We do not enhance value until management implements our recommendations and they produce a desired outcome — and that won't happen without effective communication.

06.07.2020 - 13:12

ECIIA

European Commission: review of prudential rules (Solvency II Directive)

The European Commission published a roadmap on the review of prudential rules (...

03.07.2020 - 12:29

ECIIA

EIOPA: response to the European Commission’s Digital Finance Strategy consultation

The European Insurance and Occupational Pensions Authority (EIOPA) responded to the consultation of European Commission on a new digital finance strategy for Europe. In its response EIOPA highlights that a sound approach to financial innovation should strike a balance between enhancing financial...

01.07.2020 - 12:38

ECIIA

EIOPA: joint consultation concerning environmental, social and governance (ESG) disclosures

The European Supervisory Authorities (ESAs) invites comments on all matters in this consultation paper on ESG disclosures under Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial sector.

ECIIA will react to this consultation on behalf of the Banking and...

30.06.2020 - 13:52

ECIIA

FERMA: European Risk Managers 2020 report

FERMA has published its European Risk Managers 2020 Report.

The top 3 risks within the 3 next years are:

  • Cyber threats,
  • Speed...

30.06.2020 - 12:20

ECIIA

EBA supports the Commission’s proposal for a new Digital Finance Strategy for Europe

The European Banking Authority (EBA) published its response to the European Commission’s consultation on a new Digital Finance Strategy for Europe.

...

30.06.2020 - 11:57

ECIIA

EP Think Tank: The impact of GDPR on artificial intelligence

The European Parliament just published a study on the impact of GDPR on artificial intelligence.

This study addresses the relation between the EU General...

30.06.2020 - 07:48

Mike Jacka

The First to Go

​In times of financial pressure, executives look for least painful cuts. Don't let them think that would be internal audit.  

29.06.2020 - 16:31

Richard Chambers

Documentary Puts a Human Face on Internal Auditing, Accounting

The program conveys a passion for discovery, willingness to work hard, and commitment to do work that benefits the public.

29.06.2020 - 13:03

ECIIA

ECIIA’s reaction: consultation on the white paper on artificial intelligence

ECIIA has reacted to the public European Commission consultation on the white paper on artificial intelligence: a European approach.

Main...

26.06.2020 - 06:48

Mike Jacka

What Ever Happened to metoo

​Internal audit must share the blame for letting this important issue fall through the cracks.

25.06.2020 - 11:11

ECIIA

European Commission: GDPR after 2 years implementation

The European Commission has just issued the evaluation report about GDPR, after 2 years implementation....

24.06.2020 - 11:59

ECIIA

Interview with Andrea Enria, Chair of the Supervisory Board of the ECB

Speech of Supervisory Board Chair Andrea Enria about the impact of the current crisis on the banking system, the reaction of the authorities, and the measures that would need to be taken to improve banks’ profitability.

Read it...

23.06.2020 - 12:50

ECIIA

Accountancy Europe: publications to shape the Non-Financial Reporting debate

Accountancy Europe released 3 publications to influence the debate on non-financial information reporting.

  1. In its ...

22.06.2020 - 16:03

Richard Chambers

Life With a Quarantined Auditor

This week I was imagining what it would be like to hear from people trapped in isolation with an internal auditor — and how an advice column might help.

19.06.2020 - 08:21

Mike Jacka

Your Call Is Important to Us

​Evaluate the customer experience by experiencing the organization from the customer's perspective.

16.06.2020 - 11:39

ECIIA

New normal: webinar on June 3rd with CAEs from SSM Banks about COVID-19 status

1. Adjusting to the new normal

  • Given the extended working from home arrangements, it is difficult to determine whether the Bank continues to operate its Business Continuity Plan (BCP)or is just operating under a ‘new normal’. This has an implication for...

15.06.2020 - 17:27

ECIIA

OECD: auditor independence in times of crisis

COVID-19 has put pressure on independence as internal auditors strive to offer the most assistance to management as possible. It should be remembered that advisory services form part of the definition of internal auditing and the value it can bring to an organization’s success. Internal audit’s...

15.06.2020 - 15:49

Richard Chambers

What New IIA Survey Reveals About Pandemic's Impact and Year Ahead for Internal Audit

Internal auditing’s response to the pandemic has showcased its ability to provide great value to organizations in times of crisis.

15.06.2020 - 15:03

ECIIA

EBA: enhanced standardisation of disclosure requirements laid down in the Non-Financial Reporting Directive

The European Banking Authority (EBA) submitted its response to the European Commission’s public consultation on the review of the Non-Financial Reporting Directive (NFRD). The EBA welcomed this consultation and agreed with the need to revise the NFRD so...

12.06.2020 - 07:55

Mike Jacka

And the Soft Skills Keep Getting Harder

​Just as we are getting better at soft skills, the skills needed for soft skills changes.