Chairman’s Message – April 11, 2012

Scott White, FSAB Chairman

FSA Times Home Page

The financial services industry is being especially challenged by the increasing volume of regulations that seem like a constantly moving target. It’s critical that the role of internal audit and compliance in our organizations be clearly defined and well coordinated to reduce the possibility of non-compliance and the resulting financial penalties, increased expenses, and adverse publicity. Be sure to read this month’s Internal Auditor for articles on regulatory compliance and corporate governance for additional insight, including the cover story, “A Barrage of Regulations.”

Our focus on compliance and emerging issues will continue at the 2012 International Conference in Boston, July 9-11, 2012. We have two great financial services pre-conference sessions planned. The first, with Protiviti’s Carol Beaumier and M&M Consulting LLC’s Jay Friedland, will update us on emerging issues and examine recent regulations. The second pre-conference session will include a panel of chief audit executives from a cross-section of the financial services industry to discuss the latest issues that internal auditors are facing. Also, the Financial Services Auditors Board (FSAB) has put together a financial services track covering topics such as the Dodd-Frank Wall Street Reform and Consumer Protection Act, model validation, and auditing derivatives. I encourage you to look over the conference program and register early.

Based on members’ recommendations, every issue of FSA Times now includes Compliance Corner to keep members up to date on the latest compliance hot topics. We also have instituted a series of members-only webinars focused on compliance and other industry topics. If you happened to miss our April 4 webinar, “Audit Your Alternative Assets Management Business in the New Regulatory Era,” or any of our other webinars, they can be replayed at your convenience on the FSA Web page (member login required). However, to receive continuing education credit, you must be present on the live webinar.

The FSAB values the input of our members and strives to bring you the most current information. To help ensure we meet your needs, a membership survey will be sent via email to FSA members in May. Your responses will be helpful as we plan future programs and content for FSA Times, so please take a few minutes to tell us what you think. As always, if you have any questions or suggestions regarding the activities of FSAB, please contact Membership Development at membershipdevelopment@theiia.org.

Warm regards,

Scott White, CIA, CFSA

Financial Services Advisory Board Chairman

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