Internal audit grappling with greater role in bank culture

CIIA's Peters says auditors often lack right skills and support of bank boards

Ian Peters CIIA chief executive
Ian Peters, CIIA

Internal auditors lie at the heart of a post-crisis cultural shift at banks but they often lack the right skills and the co-operation of the board to ensure managers act in line with their bank's values and risk appetite, the head of the UK's Chartered Institute of Internal Auditors (CIIA) said in an interview.

The financial crisis revealed how internal audit erred in focusing too heavily on compliance and overlooking ethical failings and skewed employee incentives, Ian Peters told The

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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