Inside Jobs: How to Investigate Internal Fraud

From Bank Director

Brian McCormally of the law firm Arnold & Porter LLP describes the steps that boards need to take when investigating internal fraud.

BNP Fine Spotlights Banks’ Need for In-House Police Force

From Bloomberg

‘ “It’s actually a very hot market right now,” said Mike Roemer, who became head of compliance at London-based Barclays Plc (BARC) in January. Today the role is seen “as an integral part of how companies manage the overall risk of the organization,” he said.

After the U.S. extracted almost $12 billion in fines in settlements with France’s BNP Paribas SA (BNP) and Zurich-based Credit Suisse Group AG (CSGN) since May, European firms say they’re overhauling culture and boosting pay for compliance staff faster than for revenue-earning bankers. Still lawyers question whether this will be enough to deter future misdeeds as authorities around the world probe alleged manipulation of interest rate, foreign exchange and gold benchmarks.’

read more>>


 

Bank Audit & Risk Committees Conference in Chicago

The Role of the Audit Committee

From BankDirectorMagazine

“John Palmer, managing partner of ICS Consulting Partners, reviews the basic skills and requirements that every audit committee needs to be successful today.”

Thomson Reuters Survey Highlights Changing Nature of Internal Audit

From Bobsguide

“Internal audit practitioners globally are bearing the brunt of a quickly changing regulatory landscape, particularly in financial services, according to a new survey by Thomson Reuters. As organisations continue to play catch-up with a shifting regulatory environment the focus of internal audit practitioners’ roles is changing dramatically, and resources being stretched, as the function is asked to take increasing responsibility for company-wide corporate governance and reporting to the Board.

Thomson Reuters Accelus surveyed more than 1,100 internal audit practitioners across Europe, the Americas, Australia, Asia, Africa and the Middle East to canvass their views on the state of internal audit and the greatest challenges for the year ahead.”

read more>>

Repositioning the Internal Audit from Good to Strong

From BankDirectorsMagazine

Lynn McKenzie, partner with KPMG, reviews what banks can do to improve internal audit by increasing board engagement, building strong leadership and developing more effective auditing processes.