Internal Audit Role - BFSI

- Conduct risk assessment of assigned department or functional area in established/required timeline

- Establish risk-based audit programs

- Determine scope of review in conjunction with the Audit Manager

- Review the suitability of internal control design

- Conduct audit testing of specified area and identify reportable issues and dimension of risk

- Determine compliance with policies and procedures.

- Verbally communicate findings to senior management and draft comprehensive and complete report of audit area.

- Internal auditors that report questionable conduct will be protected from retributive termination

- There will be an increased occurrence of risk auditing

- Internal auditors will adapt to new reporting mechanisms and audit systems

- Internal auditors will adapt to new internal controls within organizations

- Internal Auditors will work with new mandatory internal risk committees