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Message from the President

Jun 19, 2019 09:09 AM

Dear Members,

This is my first message to you as IIA-Australia’s new President and I feel deeply honoured to have been elected for the coming year.

I would like to acknowledge the enormous contribution that Mark Harrison has made over the past two years as President.  Among many of Mark’s key achievements were presiding over an enormously successful 2017 International Conference, encouraging the development of thought leadership around managing culture (and which received international acclaim), promoting the new IIA-Australia Connect>Support>Advance brand, and nurturing the direction and growth of the Youth Leadership Committee.

At our all-day board meeting in May your directors agreed to a proposal to develop best practice internal audit guidance for the financial services sector.  The initiative follows closely on the back of the Hayne Royal Commission and reflects a similar and very successful initiative undertaken by the Chartered Institute of Internal Auditors in the United Kingdom and Ireland in 2012.  We will establish a Committee on Internal Audit Guidance for Financial Services led by an eminent Audit Committee Chair and comprising leading heads of internal audit from the sector.  We expect wide consultation with key stakeholders later this year.  We expect the Committee to conclude its work in early 2020.

The board also approved the introduction of two-hours of mandatory ethics training for all PMIIA/PFIIA as part of their annual CPE/CPD from 2020.  This follows a similar IIA-Global requirement that has been in place since 2018 for all certification holders.  Given that the most popular pathways to PMIIA is through completing the CIA or the GradCertIA, the resolution simply ensures that there is now consistency of treatment of all our Professional Members.  IIA-Australia will continue to ensure that at least two-hours of ethics training is made available to all members free-of-charge when meeting this obligation.

Following the meeting, the board joined members at the AGM that was hosted by Grant Thornton in Sydney.  The AGM received Mark Harrison’s outgoing President’s Report before approving directors to the board.  The elected directors were:

  • Mel Grantham – new
  • Mark Harrison – continuing
  • Greg Rimmer-Hollyman – continuing
  • James Rooney - new 
  • Stephen Tiley - continuing

Last week we had our June board meeting.  The board approved the recommendations of the Nominations Committee for members to be presented as Chairs, Vice-Chairs and Councillors at various Chapter Annual Meetings during July and August.

Finally, IIA-Global will launch an Exposure Document on the Three Lines of Defence Model in coming days.  Most of you would appreciate the importance of the 3LOD Model in helping to communicate internal audit’s role and position within organisations.  This will be the first time in some 20 years that the 3LOD Model will be reviewed.  There will be a three-month window within which to comment.  I encourage you to read the Exposure Document when it is released later this week and to participate in the international survey that has been designed to collect your thoughts and opinions.

Best to you all 

Stephen Coates

President and Chairman of the Board