Practical guidance on macroeconomic and geopolitical uncertainty
This practical guidance is part of the Risk in Focus 2021 publication and addresses the key topic: macroeconomic and geopolitical uncertainty.
Market risk has always been considered a key risk for financial services organizations. Regulators and supervisors are focused on this risk, emphasizing the need for accurate models that can measure the capital impact of market activities on the financial viability of the institution.
The IIA’s new report, “From Conformance to Ambition: Applying the Internal Audit Ambition Model,” helps CAEs define internal audit’s full potential and align their ambitions with those of their organization. Understanding and applying the model also drives conformance to The IIA’s Standards, and helps communicate internal audit’s achieved levels of quality.
Internal auditors also can bring new value to their organizations by weighing how the pandemic is affecting the organization’s operating model, demonstrating how audit insights can help, and providing assurance over strategies to remain relevant.
A Blueprint to Managing Corporate Fraud Risk During a Pandemic offers a practical approach to directly address the scenario of an increased risk of fraud (corruption, misappropriation of assets, fraudulent financial statements) in organizations due to the pandemic.