Margaret Hodge MP headlines IIA Annual Dinner

11 June 2015

Margaret Hodge: crucial role for internal audit as 'there is less tolerance of bad behaviour today than there was a decade ago'

The former Chair of the Public Accounts Committee, the Rt Hon. Margaret Hodge MP, was the special guest speaker at the IIA’s annual dinner on June 10th at the Guildhall in London.

Speaking to over 300 guests from across industry sectors, including heads of prominent government and regulatory bodies, Ms Hodge praised the profession of internal audit and the role it plays in both the public and private sectors.

In her speech, Ms Hodge said: “What you do and how you serve the organisations you work for is very important. How risk is managed is becoming increasingly important in the public and private sectors. Governance arrangements may have been ignored in the past. People are now concerned that we have proper governance in place and there is less tolerance of bad behaviour today than there was a decade ago”.

The evening was a celebration of the achievements of students as well as the largest networking event in the internal audit calendar. IIA President, Paul Kaczmar, presented awards to the students with the highest scores on the diploma and advanced diploma exams. Former Head of Internal Audit at the Ministry of Justice, Joyce Drummond-Hill CBE, was awarded the JJ Morris Award for distinguished service to the Institute and the internal audit profession.

Institute Chief Executive, Dr Ian Peters said: “The attendance of a public figure as prominent as Margaret Hodge emphasises the profile and influence that internal audit now has in the private and public sectors. The Institute’s recent initiatives in the financial services and the audit of organisational culture have given internal auditors a platform upon which they can add real value to their respective organisations”.

In his speech, IIA President Paul Kaczmar said: “The rise of internal audit is a testament to the Institute’s partnership working; and efforts to position internal audit as an essential function in any organisation to enable it to effectively manage risk, apply internal controls and maintain good corporate governance. The stronger partnerships the Institute builds, the more that internal audit will be recognised as being essential to success”.