Skills and Staff Rotation

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– in the Internal Audit Function in financial institutions

The position paper from ECIIA’s Banking Committee aims to provide guidance to the Internal Audit departments of financial institutions, addressing the following:

  • skills inventory
  • assessment and development
  • staff rotation
  • and talent management.

Due to the vast and fast-paced changes in today’s business environment, alongside new risks, there is an increased need for competent internal audit staff and an adequate internal audit function. Financial institutions and the banking sector as a whole are significantly impacted and disrupted, further requiring the need for better tools and skillsets from internal audit.