ALRiM invited to IIA working group on risk management
20 internal auditors and 2 risk managers walk into a bank - ALRiM invited to IIA working group on risk management
The Institute of Internal Auditors (IIA) invited ALRiM representatives to take part in a working group held on October 11th to discuss and share thoughts around risk management, audit and how these spheres interact.
Although the balance of power was not very fair (20 auditors and 2 risk managers walk into a bank…), ALRiM, represented by its President Luc Neuberg and fellow board member, Michael Derwael, reports that discussions were thorough with the auditors challenging them on topics ranging from regulatory key texts, delegation oversight, governance arrangements to reporting, model validation and the evolving focus of CSSF during their onsite visits and calls.
Discussions were open and constructive and addressed key issues faced by internal audit when reviewing risk management and where risk managers thought internal audit should focus their efforts.
ALRiM wants to thank IIA for organizing this event which, we hope, will confirm a useful collaboration between the audit and risk management professions.