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RBA GOVERNOR: Speaks at Financial Forum
30/11/2011 12:42:41 PM
RBA's Governor, Glen Stevens speaks at the IIA-Australia Financial Forum
The Reserve Bank’s Audit Department has a long association with the IIA and we are strong supporters of the work of the Institute.
The fact that you are holding this Forum is significant. As all of you know only too well, there have been many practices exposed in global financial institutions over the past few years that show poor risk management and failure of controls over lending and trading activities. The fact that these issues continue to surface is a clear indication that the subject matter of today’s Forum remains relevant.
From my own experience at the Reserve Bank over many years, I have gained an appreciation of the important role that internal audit can play in our financial institutions. The Reserve Bank is, of course, very much a bank. We have a substantial balance sheet that requires management, we provide a range of banking services to government clients, we operate key pieces of financial infrastructure, and we rely heavily on our IT systems to deliver these services.
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