Asian Institute of Chartered Bankers (AICB) And Chief Internal Auditors Networking Group (CIANG) Host Successful Bank Audit Conference 2024

Bank auditors urged to embrace change to keep up with evolving landscape

KUALA LUMPUR, Malaysia, March 8, 2024 /PRNewswire/ -- As financial institutions worldwide are being disrupted on multiple fronts in an era marked by climate action and digitalisation, greater expectations are placed on internal auditors in the banking sector to stay ahead of the curve by upskilling and leveraging technological advancements to meet the changing industry and regulatory demands.

The inaugural Bank Audit Conference 2024 (BAC 2024) themed "Future of Internal Audit — Embracing Change, Staying Relevant" held on 6–7 March 2024 in Kuala Lumpur was jointly organised by the Asian Institute of Chartered Bankers (AICB) and its Chief Internal Auditors Networking Group (CIANG) and officiated by Datuk Wan Suraya Wan Mohd Radzi, Auditor-General of Malaysia, who delivered the keynote address. The conference provided a platform for local and international internal audit professionals and experts to gather and discuss the megatrends shaping the new audit and risk management landscape, regulatory developments, and how to further elevate the standards of internal audit practices in financial institutions in Malaysia.  

Tan Sri Azman Hashim, FCB, Chairman, Asian Institute of Chartered Bankers shared, "In times of change, internal auditors continue to play a critical role in ensuring 'checks and balances' for sound corporate governance within banking institutions. The internal auditor of the future must be able to adapt to the sustainable and digital transformation landscape and be prepared to lead in a tech-centric audit landscape. AICB recognises the importance of supporting internal auditors in developing their skills and knowledge to perform their roles efficiently and effectively. Therefore, the continuous professional development of our members is of paramount importance to us. Since introducing AICB's audit certification in 1998, over 1,700 internal bank auditors have been successfully certified to further uphold the highest standards of professional conduct and competence in the Malaysian banking industry."

Mr Shamsul Bahrom, CB, Chairman of AICB's Chief Internal Auditors Networking Group (CIANG) said, "As an internal auditor, I wish to emphasise that we must remain front and centre of the integrity of our institutions and be proactive to effectively prepare for the future. The AICB–CIANG is a strong network that brings together bank auditors to discuss current and critical issues that are commonly faced and impacting our profession. The inaugural Bank Audit Conference 2024, which positions the profession at the forefront of the evolving business environment, has exceeded our expectations. This further reinforces the need for greater sharing of knowledge and best practices across the profession to further assist internal audit professionals in their development of systematic approaches and solutions to evaluate and improve the effectiveness of reporting, risk management, fraud detection, internal controls and governance processes in their respective institutions. These efforts will promote stronger compliance within our institutions, meet the highest of international standards, and contribute to the stability of the financial system and the broader economy."

At BAC 2024, over 30 leading bankers, regulators and internal audit experts shed light on notable global trends in the industry, including among others digital disruption and cybersecurity, the increasing importance of ESG issues in business considerations, sustainability reporting and disclosures, integration of AI and data analytics in boosting the efficiency of audit functions, the complexity of data privacy, security laws and regulations, further underscoring the importance of the internal audit function in providing robust reporting, enhancing risk management and ensuring sound governance.

BAC 2024 drew over 500 delegates from local and international financial institutions and featured a pre-conference workshop that focused on integrating data security and cybersecurity into the internal audit framework.

For more information on the Asian Institute of Chartered Bankers, please visit www.aicb.org.my.

About The Asian Institute of Chartered Bankers (AICB) 

The Asian Institute of Chartered Bankers (AICB) is the sole professional body for Malaysia's banking industry. The Institute is governed by a council of representatives from Bank Negara Malaysia (BNM), The Association of Banks in Malaysia (ABM), and the Malaysian Investment Banking Association (MIBA). With over 34,000 members and growing, AICB aims to elevate professional and ethical standards in banking by creating a workforce with the highest standards of professional conduct, knowledge and competence through its professional membership and qualifications. AICB is the only institute in Southeast Asia that is approved by the Chartered Banker Institute, UK, to award the Chartered Banker status. It continues to engage with industry experts to ensure that its suite of qualifications remains relevant and futureproof, equipping bankers with the requisite skills and values to keep pace with the ever-evolving banking environment. The Institute continues to support the growth of its members through innovative learning and by advocating professionalism, advancing thought leadership, and facilitating networking opportunities.

For more information on AICB, please visit www.aicb.org.my.

SOURCE Asian Institute of Chartered Bankers