UK: Effective internal audit in the financial services sector - CIIA guidance and recommendations published

The Chartered Institute of Internal Auditors has today published Effective Internal Audit in the Financial Services Sector - Recommendations from the Committee on Internal Audit Guidance for Financial Services: see here (pdf). Further background information is available here. The Prudential Regulation Authority and Financial Conduct Authority have said that they will, in exercising their supervisory judgment, consider the nature and extent of compliance with the CIIA's guidance in any assessment of internal audit effectiveness within regulated firms: see here.