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2011

AML internal auditors urged to lift their game ( , 27 KB )
23-Feb-2011 | Media Releases | IIA Australia | Access: Public
Internal auditors must boost the rigour of their audits of anti-money laundering compliance to successfully protect their organisations’ reputations and progress the fight against financial crime, says the Institute of Internal Auditors, Australia (IIA). “Internal auditors should be capable of performing a comprehensive, independent annual review of whether their company has a sound framework for managing its money laundering and terrorist financing (AML/TF) risks,” said Mr Joe Garbutt, IIA’s director policy.

ASX must call for a mandatory internal audit function ( , 135 KB )
14-Feb-2011 | Media Releases | IIA Australia | Access: Public
The ASX Corporate Governance Council will next week commence a review of the ASX Corporate Governance Principles and Recommendations – the definitive ‘bible’ of corporate governance best practice in Australia’s. With the widespread risk management failures of the financial crisis fresh in the minds of Corporate Australia not to mention the legions of investors who lost their life savings, it is incumbent on the ASX Council to seize this unique opportunity to strengthen the Principles and Recommendations.



2010

Sky-high UK fines sound risk management alarm bells for Australia’s global corporates ( , 38KB )
10-Nov-2010 | Media Releases | IIA Australia | Access: Public
A recent spate of major fines imposed by the UK Financial Services Authority (FSA) on global financial firms including Goldman Sachs and Zurich Insurance for failing to adequately coordinate their cross-border risk management, should send a wake-up call for Australia’s global corporations to ensure their assurance processes are in order, says the Institute of Internal Auditors, Australia (IIA).

Aussie business ignoring broke creditors ( , 38 KB )
02-Sep-2010 | Media Releases | IIA Australia | Access: Public
Many Australian businesses are not protecting themselves against the risk their customers might go insolvent, according to a joint survey by the Institute of Internal Auditors – Australia (IIA) and credit insurer, Atradius.

Boards take control of assurance ( , 38 KB )
26-May-2010 | Media Releases | IIA Australia | Access: Public
Audit Committees, particularly in the listed company sector, have increased their control over internal audit by removing reporting lines to management in a bid to improve the quality of assurance in the aftermath of the financial crisis, a joint survey conducted by Protiviti and the Institute of Internal Auditors, Australia (IIA), has revealed.

Risk management too important for the ‘If not why not regime’ say internal auditors ( , 29 KB )
23-Feb-2010 | Media Releases | IIA Australia | Access: Public
Risk management assurance must be removed from the ASX Corporate Governance Council’s optional ‘if not why not’ regime and elevated to the status of a mandatory ASX listing rule, said the Institute of Internal Auditors Australia (IIA) at the launch of the organisation’s national Policy Agenda today.  According to IIA board director, Mr Gary Anderson, the global economic crisis had clearly exposed the dangers of excessive risk taking.



2009 
Global tool can fix lacklustre internal audit in Australian public service ( , 27KB )
24-Nov-2009 | Media Releases | IIA Australia | Access: Public
Internal audit practice in the Australian public sector is patchy and inconsistent across all three levels of government, says a Canadian expert. In Australia to launch the IIA’s Internal Audit Capability Model, which provides a practical road map for public sector internal auditors to implement and strengthen effective internal auditing in the interests of better governance and public accountability, lead researcher Ms Elizabeth MacRae observed that local government faced the greatest challenge in getting its governance settings right.


Road to recovery paved with risks ( , 38KB )
15-Oct-2009 | Media Releases | IIA Australia | Access: Public
Companies that do not ramp up their risk and control frameworks to match the surge in business from an improving economy could suffer major financial losses. “Down-sizing and cost-cutting during the economic slump has left holes in the risk  management structures of many Australian companies that could leave them exposed as business activity picks up,” said Cathy Blunt, Vice President of the Institute of Internal Auditors (IIA).

Australians storm the board of global internal audit body ( , 104 KB )
28-Jul-2009 | Media Releases | IIA Australia | Access: Public
The number of Australia representatives on the global board of the Institute of Internal Auditors (IIA) has hit a historic high following the election of two Australian directors in a move that recognises Australia's thought leadership and capacity to contribute to the profession.
'Step up to the plate' new President tells internal auditors ( , 72 KB )
10-May-2009 | Media Releases | IIA Australia | Access: Public
Internal auditors must continue to step up their professionalism and prove their worth to the board, management and investors, particularly during the turmoil of the global financial crisis, if they want to be widely recognised as guardians of sound management and as strategic governance advisors, says newly appointed President of the Institute of Internal Auditors Australia (IIA), Mr Andrew Dix.
Australian corporates fail test of auditor independence ( , 29 KB )
13-Apr-2009 | Media Releases | IIA Australia | Access: Public
Many Australian listed companies are neglecting fundamental governance standards by failing to establish an independent internal audit function, according to a joint survey conducted by Protiviti and the Institute of Internal Auditors Australia.
Internal Auditors urge local councils to step up governance around Rudd stimulus funding ( , 27 KB )
01-Apr-2009 | Media Releases | IIA Australia | Access: Public
Local councils must improve their governance framework through a robust internal audit function if they are to assure taxpayers that substantial funds received under the federal government ’s recently announced $42 billion Nation Building and Jobs stimulus package will be used responsibly and effectively.
Risk management emerging as a financial crises casualty ( , 21 KB )
01-Mar-2009 | Media Releases | IIA Australia | Access: Public
While most companies have sharpened their focus on risk and, in many cases their exposure to new risks that have emerged since the start of the financial crisis, cost cutting is seriously eroding their capacity to evaluate and improve the effectiveness of their risk management, control and governance processes a new survey has found.
Governance authorities launch new good practice guide for audit committees ( , 94 KB )
11-Jun-2008 | Media Releases | IIA Australia | Access: Public
Three leading organisations in the governance arena - the Australian Institute of Company Di rectors (AICD) , the Auditing and Assurance Standards Board (AUASB) and the Institute of Internal Auditors - Australia (IIA - Aust) – have launched a new guide, Audit Committees: A Guide to Good Practice.
New Guidance for Implementing ASX's Governance Council's Revised Principle 7 ( , 59 KB )
03-Jun-2008 | Media Releases | IIA Australia | Access: Public
The Institute of Internal Auditors Australia has published a new guidance booklet to assist internal auditors support boards and senior managers in developing more robust and transparent risk management systems.
The Institute of Internal Auditors new IT audit guide ( , 48 KB )
06-Nov-2007 | Media Releases | IIA Australia | Access: Public
To fill a gap in guidance on auditing IT application controls, The Institute of Internal Auditors (IIA) has launched a new Global Technology Audit Guide� (GTAG�) - GTAG 8 "Auditing Application Controls" - to help internal audit practitioners, C-level executives, and boards of directors understand the risks associated with application controls and how internal auditing can help mitigate those risks.


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