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Financial Services Heads of Internal Audit - Responding to COVID-19

07 October 2020

BDO hosted a number of roundtable discussions with Heads of Internal Audit (‘HIAs’) from the financial services sector during COVID-19 lockdown. The sessions considered Internal Audit’s response to the crisis and implications for its longer term role, approach and plans. 

It was clear following the sessions, that many participants, despite operating in different sectors, faced similar issues which provided comfort to HIA’s that they were not ‘alone’ or ‘off track’.

To complement these reflections, we have contributed BDO’s experiences over the last six months (as an internal audit partner to many firms across the financial services industry) which we share in this paper.

We hope you find these insights useful as you consider you own experience and re-assess your plans in the ‘new reality’.

As we write, it is clear that we are not yet ‘out of the woods’ and are facing continued restrictions. The implication of this on people’s wellbeing and on the effectiveness of systems, processes and controls should therefore be centre stage in planning discussions for 2021 onwards.

Download our summary