The European Confederation of Institutes of Internal Auditing (ECIIA) has published its thrd European Regulatory & Risk Brief. The brief brings together key regulatory and policy developments in Europe relevant to internal audit, governance, risk management, reporting and assurance.
The September edition covers, among other topics:
- Developments in EU digital regulation, AI and operational resilience, including the implementation of the AI Act, the AI Omnibus package, and ICT and cyber risks related to artificial intelligence.
- The first reporting obligations under the Cyber Resilience Act, as well as requirements related to product cybersecurity, vulnerability management and incident reporting.
- AMLA’s preparations and the harmonisation of EU supervision of anti-money laundering and countering the financing of terrorism (AML/CFT).
- The EU’s 21st package of sanctions against Russia, including its implications for the financial sector, crypto-asset services and the prevention of sanctions circumvention.
- Upcoming developments in banking and insurance regulation, including the EU banking regulatory framework and the implementation of the Solvency II reforms.
- The reform of sustainability reporting and the ESRS, as well as EFRAG’s work to support the practical implementation of the reporting requirements.
- Developments in supply chains, due diligence and economic security, including the implementation of the EU Deforestation Regulation (EUDR) and the reform of EU public procurement rules.
The brief highlights the growing importance of digitalisation, artificial intelligence, cybersecurity, regulatory change, anti-money laundering and sustainability reporting from the perspective of internal audit, risk management and compliance functions. Organisations are facing a range of new and evolving requirements and need to assess their potential impact on processes, controls and reporting.
The brief will be published every two months, with the next edition scheduled for November.
Read the full brief on the IIA Finland member area.
(Member area > ECIIA, Global, Tone)
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