Background:

Internal inspection and audit in banks / NBFCs / Financial Institutions (FIs) are critical components of a robust risk management framework, ensuring the institution's operations are compliant, efficient, and aligned with internal policies and external regulations. These serve as a safeguard against financial, operational and reputational risks, contributing to the overall stability and trust in the banking / financial system. The regulator also places significant emphasis on the internal inspection and audit systems of banks / NBFCs / FIs. Besides being a regulatory requirement, inspection and audit also forms the foundation of good governance, operational integrity, and financial stability while also ensuring the safety and soundness of the financial system. This function also helps decision makers protect organizational assets and support operational sustainability making it an essential and effective risk management tool, providing the Board and senior management with critical information to accurately attest to the adequacy of internal controls.

Objectives:

This one-day Virtual Conference will deliberate on emerging business scenarios, changing risk environment and need for redesigning the audit strategies, approaches and tools. It will provide opportunities to the participants to interact with experts & regulators in the areas of audit and audit practices, besides the emerging  trends and challenges in internal audit.

Conference Highlights:

The Conference will deal with the following:

• Evolving role and significance of audit functions in the financial System
• Changing role of internal audit as an assurance function- static vs. dynamic approach in Internal Auditing
• Meeting challenges to inspection and audit functions -  Resource constraints, technological complexity and Cybersecurity threats
• Risk Based Internal Audit of Banks – Supervisory Issues and Concerns
• Supervisory issues in respect of Internal Audit function, Audit Committee of the Board and audit approaches