The IIA's Financial Services Code - "Effective Internal Audit in the Financial Services Sector" - has won in the social and environment category of the MCA Awards 2014.
The code, which was released last July, was entered in the consultancy awards by EY, which worked with the institute on a pro bono basis to develop it, working to an independent committee, which the Institute created for the task.
The category was open to consultancies that could demonstrate work with a client that enabled them to achieve outstanding and sustainable benefits for society, including the environment. This could include sustainability practice and innovation, social investments and community engagement, work with the third sector or other pro bono work.
The Institute's Code contains recommendations which provide a sector specific benchmark against which boards and regulators can assess the effectiveness of their internal audit functions, so that they are better able to manage risks to their organisations.