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This community aims to provide related links, resources and news references, and to develop a forum for internal auditors to exchange views on various related items.
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Prasoon Mukherjee Director | Head of Securities Services | GSC-India at Societe Generale Bank
Introduction: A background of accounting and auditing mis-governance, that’s hard to ignore: With sheer increase in the number of accounting scams that the industries have witnessed since early 2000, I have had this inner urge to bring this subject for more intensive debate. The last to hit a similar cord, is the recent issue of a whistle-blower, ...
26 November 2019 /regulation
Christopher Craddock Director for Tax Solutions at IHS Markit
Governments and regulators reacted to the 2008 financial crisis by introducing a raft of regulation for financial services, acquainting professionals with a range of acronyms such as MiFID, PRIIPS, EMIR and FATCA. The aim of much of the regulation: to improve transparency through reporting information to regulators and government authorities to he...
12 June 2019 /regulation
Shailendra Malik SVP - Tech Delivery (Data Platform) at DBS Bank
Machine learning (ML) adds a unique and sometimes overwhelming experience to a decision system. The use cases that fit for using Machine Learning approach in a bank are numerous. Usually, in banks, the departments have their own IT teams to carry out enhancements & maintenance of existing systems. Even in those banks which have adopted the sha...
13 October 2018
Audit has always been a support function for banks that has served as the last line of defence for keeping the organisation safe from external attacks and provide assurance to business & stakeholders about the safely of the business from any malicious attempt to harm the data or assets of the business. With all companies virtually converting i...
09 August 2018 /regulation
Freddie McMahon Director Strategy and Innovation at DF2020 Ltd
Within traditional Financial Services there is a common belief that regulation has fundamentally constrained the industry, but at the same time innovation through FinTech has blossomed. The Regulators do not believe regulation is a constraint to good business and have worked closely with FinTech. Something feels out of kilter! Maybe it’s time we f...
23 June 2018 /regulation
Retired Member
For years, auditors have used interviews and workshops to conduct successful company assessments. As more businesses become digitised, auditors need to blend traditional techniques with a more data-led approach. In the face of higher expectations for accuracy, internal departments need to take note: big data is changing the way organisations opera...
16 May 2018 /regulation
GDPR CUSTOMER CONSENT: TERMS AND CONDITIONS IN CONTENT FORM ARE NO LONGER FIT FOR PURPOSE - NOW IS THE TIME FOR CHATBOT DIALOGUE Consent is to give permission for something to happen. Consent is one of the specific EU GDPR (General Data Protection Regulation) challenges impacting the Public Sector, Industries, Professional Services and inc...
06 October 2017 /regulation
I am not at all surprised at this. It is sub judice even to discuss what the investigation will reveal; yet I will risk my last cent if it is not an ‘inside job’ with the connivance of the POS folks. It was the butler after all. The phrase ’information security’ on google search throws up 874,000,000 results (0.17 seconds) and the phrase ‘key lo...
20 August 2012 /security
A curious client recently asked – “Couldn’t financial modeling risk be diminished by introducing a Quality Assurance Review Panel (“QARP”)?” It was a simple, pragmatic question that left me momentarily perplexed. I then enthusiastically responded “I’ll look into it – it could have legs”. And so I researched further. A threshold question is the pr...
09 August 2011 /regulation /retail
This is what I read on employee fraud by the Financial Services Authority “one of the most serious threats”; an employee knows the inside story of process weaknesses and is often with collusion with an outsider by infiltration as in the case of BofA. Statistics indicate that 60% of frauds are by internal staff (full time employees, contractors or ...
28 May 2011 /regulation /retail
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