Islamic Finance

Malaysia: AICB’s new certification for bank auditors to include information of technology audit

| 12 January, 2018
 NST Business


The Asian Institute of Chartered Bankers (AICB) has introduced the new Certification for Bank Auditors (CBA), which will include an emphasis on information of technology audit.

Chairman Tan Sri Azman Hashim said it has become important and relevant for internal auditors to adapt to a changing world of cybersecurity especially when cyberattacks are one of the top risks in banks today.

"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 today.

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

Azman said the CBA will replace 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.

Azman said the qualification will provide internal auditors the necessary knowledge and skills to help internal auditors discharge more effectively and maintain the credibility of an audit process.

AICB chief executive Prasad Padmanaban said as the only professional body for banking professionals in the country, it will ensure the qualifications offered by the Institute reflect the highest standards required by the industry.

“The CBA will raise the competencies of internal auditors to better understand business processese, and therefore align better with the broader organisational goals,” he said.

Bank professionals who hold degree or Diploma or Certificate with three years of audit experience can apply for the CBA qualification.

An accelerated route is also available for those with Certified Internal Auditor or Professional accounting qualifications which are recognised by the Malaysian Institute of Accountants (MIA) with three years banking audit experience.

Copyright New Straits Times