It’s hard to believe that we are already in the 4th quarter of 2012 and that the presidential and local elections are right around the corner. Regardless of the election results, financial institutions will continue to face an ever-increasing volume of regulations and scrutiny from regulatory examiners. The increased pressure from examiners in all sectors of financial services has everyone talking and wondering about what’s next. It’s almost impossible to define any trends in what the examiners are emphasizing, as the issues they are identifying appear to be random in some cases. One certainty is that internal audit’s effectiveness in the organization is being scrutinized more than ever.
In an attempt to capture some of the hot topics and issues around preparing for an examination, Lisa Adinolfi-Tejera and I have coauthored “Auditing the Auditors.” Adinolfi-Tejera, a member of the Financial Services Advisory Board (FSAB), has conducted roundtables with large financial institutions in the New York City area and has heard firsthand some of the trials and tribulations of those being examined. We hope her knowledge, combined with my own experience with small financial institutions, will be helpful to those internal auditors who are preparing for their next examination.
Our next live webinar on regulatory hot topics for financial services auditors will take place Dec. 6, 2012, at 3:00 p.m. (EST). If you have missed any of our webinars, which range in topics from Dodd-Frank to anti-money laundering to risks and exposures in social media, they are available on demand on the FSA Group’s Members Only Web page. Our thanks to webinar Committee Chairman Ed Weiss, the Webinar Subcommittee, and Protivti for making this program so successful.
The Board is already busy working with the organizers of the 2013 International Conference in Orlando and two regional conferences to identify financial services topics and speakers for those events. If you are interested in presenting at these conferences or would like to recommend someone, please contact a member of the Board. As always, if you have any questions or suggestions regarding the activities of the FSAB, please contact Membership Development at firstname.lastname@example.org.
Scott White, CIA, CFSA
Financial Services Advisory Board Chairman
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