Background

Internal Audit in banks, FIs and NBFCs plays a critical role in providing independent assurance on the effectiveness of governance, risk management, internal controls, and regulatory compliance. As Heads of Internal Audit, participants are expected to look beyond technical compliance and exercise sound professional judgement in identifying and escalating emerging vulnerabilities to senior management and the Board. In an increasingly digital financial ecosystem, audit leaders must be well-versed in emerging technologies, cyber-security risks, and data protection frameworks. A robust internal audit function serves as a vital line of defence against fraud, financial losses, operational weaknesses, and compliance failures, while strengthening the institution’s overall governance, resilience, and assurance framework.

Objective

This two-day program will deliberate on the evolving role of the internal audit function in banks and NBFCs, focusing on emerging risks, governance challenges, and control issues in the financial sector. It will also provide participants an opportunity to interact with regulators, exchange perspectives with peers, and gain insights into leading practices in risk management, compliance, and assurance.

Program Highlights

The program will deal with the following topics:

• Role & Strategic Significance of Internal Audit Functions
• Internal Audit Reporting to the ACB/ Board: Emerging Best Practices
• Internal Audit Process: A Practical Approach
• An Insight into Credit Audit & FEMA Audit
• Leveraging Technology in Internal Audit
• Spot Audit & Internal Investigation of Fraud
• Risk-Based Internal Audit of Banks: Supervisory Concerns & Key Observations
• Information System Audit: Approach and Select Use Cases
• Business Intelligence & Analytics for Internal Audit
• Management Audit: Concepts and Practical Approach
• Effective Audit Reporting, Follow-up & Closure Mechanisms