The third in our fortnightly series of guest blog posts focusing on sector specific challenges from an internal audit perspective.
Take a look through the lens of financial services.
A perfect storm describes an event in which a rare combination of circumstances drastically aggravates the event - is a perfect storm building for financial services?
Internal auditors in financial service firms face multiple, competing priorities, and sometimes knowing where to focus our time and efforts is a challenge. Key elements currently facing financial service firms include:
So, how might we circumnavigate this storm – without the need for a bigger boat!
Some ideas for you to consider…
The blog post ‘Help, my crystal ball is broken’ (see related below) provides some great tips on managing uncertainty and continuing to provide assurance.
And above all, please do not forget to look after your own well-being and that of your team. Dealing with a storm is always a challenge and working as a team to use our limited resource to meet those challenges is important right now. As we have recently seen, even a slight gust of wind can send a ship off course and block a global shipping route!
Watch out for our next blog post in this series on local authorities. Coming the w/c 17 May.
Help! My crystal ball is broken!
Central government - sector challenges | Construction - sector challenges