Media Releases

IIA-Australia Media Releases

Media Releases

IIA-Australia welcomes VAGO survey of Internal Audit
10-Aug-17 | Media Release | IIA-Australia | Access: Public
The Institute of Internal Auditors - Australia today welcomed the Victorian Auditor-General report into the performance of internal audit amongst key state government departments and said each State Audit office should follow suit. Read More....
New ASX internal audit guidelines to bolster shareholder value ( , 251 KB )
28-Mar-14 | Media Release | IIA-Australia | Access: Public
A new corporate governance principle recommending ASX-listed entities disclose the use and structure of internal audit will lead to better identifying of investment risk and create value for shareholders. Factsheets to aid in understanding and implementing the new principle are available .
New guide provides clarity for boards and audit committees ( , 60 KB )
28-Aug-12 | Media Release | IIA-Australia | Access: Public
With watershed cases such as Centro adding greater complexity to directors’ duties and regulatory compliance, the Australian Institute of Company Directors (Company Directors), Institute of Internal Auditors - Australia (IIA-Australia) and Auditing and Assurance Standards Board (AUASB) have published the second edition of Audit Committees: A guide to good practice to provide boards and audit committees with essential guidance for financial reporting, corporate governance, risk management and internal control.

Purchase your guide at IIA-Australia's online bookstore .
Audit Committee Chairs condemn management meddling in internal audit ( , 130 KB )
29-Mar-12 | Media Release | Protiviti & IIA-Australia | Access: Public
Audit Committee Chairs concede that management interference in the work of internal auditors is a ‘top of mind’ threat to good governance, but while Chairs are responsible for keeping the problem in check, they say internal auditors too must ‘step up’ and develop the clout to put management back in their place.
AML internal auditors urged to lift their game ( , 27 KB )
23-Feb-11 | Media Release | 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-11 | Media Release | 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.
Sky-high UK fines sound risk management alarm bells for Australia’s global corporates ( , 37 KB )
10-Nov-10 | Media Release | 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 ( , 37 KB )
02-Sep-10 | Media Release | 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-10 | 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 )
22-Feb-10 | 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.
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