|In response to recognition of the importance of effective internal audit, a committee in the United Kingdom has been established to create new internal audit practice guidance for the UK financial services sector, underpinned by the mandatory elements of the IIA’s International Professional Practices Framework (IPPF). |
Once agreed and published, the guidance will provide an industry benchmark for best practice internal audit in the UK financial services sector. It will also provide a gauge by which the supervisor can assess the role, function and effectiveness of financial sector internal audit functions.
These pages explain in more detail the purpose of the committee and its work to develop the guidance.
Read the consultation document.