The Institute of internal Auditors Philippines, Inc.

The Institute of Internal Auditors (IIA) Philippines is a professional organization dedicated to the advancement of the internal audit profession in the country. Our members, who work in internal auditing, risk management, governance, internal control, information technology audit, education and security, came from various industry or sectors in the Philippines and belong to a global network of almost 200,000+ professionals from more than 170 countries and territories sharing a common vision of a global profession of internal auditing.

The Institute of Internal Auditors Philippines Inc. (IIAP) was registered with SEC in 1982 and formerly known as The Institute of Internal Auditors, Inc. – Manila Chapter. It was founded on August 14, 1948 by Mr. Santiago F. Dela Cruz Sr. along with a small group of accountants actively engaged in the profession. Mr. Dela Cruz, who is considered to be the moving spirit of the association, is the same man who, two years earlier than IIAP, co-established the Philippine College of Commerce and Business Administration (PCCBA) which we now know as the University of the East.

The IIAP despite some struggles during its formative years was able to attain full-fledged stature as a professional association upon earning its “Institute” status from The Institute of Internal Auditors (IIA Global) in 1990. At the time, IIAP is 1 of the 6 (six) chapters in the Pacific Region (others were in Bombay, Tokyo, Sydney, Melbourne and Ceylon). On its 75th Anniversary Celebration and Global Business Meeting last 16-17 July 2016 at New York Hilton Midtown, the IIAP was acknowledged as the 3rd Chapter organized by the IIA Global since the latter’s founding in 1941 still then headquartered in New York City, USA

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Focus and Features

Challenging environment due to the heightened complexity of the regulatory landscape, cyber threats, proliferation of innovative products, multichannel customer interaction, and other conditions. Without appropriate guidance, training, and education, the financial services industry may be challenged to find enough competent internal auditors to fulfill the responsibilities and deal with risks across this unique landscape.

This course informs and educates internal auditors who may be new to the financial services industry about the regulatory environment in which these organizations operate. It also provides an overview of engagement planning, fieldwork, and outcomes in how managing an internal audit activity within the financial services industry differs from other industries in terms of regulatory interaction, governance, and risks.

Learning Objective(s):

  • Understand the financial sector environment, including key objectives, business areas, and related risks
  • Describe the various types of financial organizations.
  • Determine the Philippines regulatory framework and roles of supervising authorities of financial institutions
  • Recognize the influence and importance of the Basel Committee on Banking Supervision (BCBS) in the Philippines' regulatory supervision
  • Understand the key elements of sound risk governance and management
  • Determine BSP's expectation from Internal Audit
  • Understand the minimum criteria that IAs must adopt in the conduct of audit
  • Determine impact and consideration of Supervisory Assessment Framework (SAFr) in the conduct of Audit
  • Apply knowledge of internal audit process in financial services organizations.

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