Internal Audit Survey 2009 - Lithuanian Banking Sector
Recent years have shown an unprecedented degree of change in the world of Internal Audit. Heads of Internal Audit Departments and risk professionals have been asked to cope with major corporate scandals and economic uncertainty and the changes that these events have had on their organizations and governance processes. In addition, they have had to familiarize themselves and provide assurance on the ever increasing use and complexity of technology. Organizations are also extending beyond their traditional barriers into close and complex relationships with third parties. The green agenda also continues to become more important within organizations as stakeholders demand more assurance on how organizations are responding to public concerns in this area.
All of this has meant that the role and responsibilities of the Head of an Internal Audit Department are becoming ever more demanding – and who knows what the short term future will bring, as the global economy tightens and the fiscal and monetary authorities take action. These factors impact Internal Audit Departments in a variety of ways, including the skills that need to be obtained and deployed, the quantum of available resources we have to hand and responding to new and emerging business risks.
This brochure provides context arising from the recent Deloitte survey which was conducted in order to benchmark the performance of Internal Audit Departments within the Lithuanian Banking industry. It has been a period of unprecedented change which we do not see abating. For internal auditors and risk professionals, coping with such significant change is now “business as usual”.
Director in Charge of Lithuania & Baltic States
Consulting and Risk Services