Extract
Boost Your Internal Audit's Roi
The internal audit department within a bank is uniquely qualified to monitor the institution's compliance with the board's objectives and test the effectiveness of internal controls. Accordingly, a high-performance audit function can help the bank and board achieve its risk-adjusted goals, while an underperforming audit function can undermine the confidence of both regulators and external auditors, resulting in greater scrutiny and the potential for higher external audit fees. As banks recalibrate their risk appetites, the future capabilities and past contributions of internal audit should be reviewed.
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