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Saturday, 13 January 2018 | MYT 12:00 AM

Bank execs urged to apply for new certification for auditors

KUALA LUMPUR: Bank executives, who hold either a degree, diploma or certificate with three years of audit experience, are urged to apply for the Certification for Bank Auditors (CBA) to further strengthen their competence in internal bank auditing.

Asian Institute of Chartered Bankers (AlCB) chairman Tan Sri Azman Hashim said the CBA was designed to align itself with the relevant body of knowledge and deployed an integrated and adaptable framework for internal audit with an emphasis on information technology (IT) audit as cyber attacks were one of the bank’s top risks now.

“As we operate in a global marketplace which is highly interconnected, the CBA is a clear need for internal bank auditors to keep abreast of these developments,” he told reporters after the launch of the certification here yesterday.

He said the CBA certification was a replacement for the Certificate in Internal Auditing for Financial Institutions (CIAFIN) which was first introduced in 1998.

“As the complexity and intricacy of the internal auditing contents broaden and deepen, particularly with greater deployment of technology in the banking industry, AICB was compelled to revisit the CIAFIN,” he said.

He added that over 1,000 candidates were expected to apply to enrol for the CBA certification next month.

Meanwhile, AICB chief executive Prasad Padmanaban, said as the only professional body for the banking industry, it became the institute’s responsibility to ensure the qualifications offered reflected the highest standards required by the sector.

“The certification consisted of two modules with both syllabi aligned with the current internal auditing body of knowledge and methodology.

“The inclusion of IT audit is very much opportune and needed with the industry going deeper into the banking 4.0 environment,” he said. — Bernama