2023-05 - Internal Audit Services

The CIB’s Internal Audit function is currently outsourced to an external consultant.  This provides the CIB with the ability to leverage external resources to provide advice on specialized topics, conduct audits that require specialized expertise and provide effective support so that audit engagements meet the CIB’s objectives and are completed in a timely and cost-effective manner.

Reporting to the Finance and Audit Committee of the CIB’s Board of the Directors, the Internal Auditor will evaluate the CIB’s governance, risk management, and control processes with the objective of providing recommendations that improve operational effectiveness and efficiency.

The Internal Auditor will evaluate the CIB’s internal controls and business processes to determine whether:

• significant risks are identified and managed within the CIB’s enterprise risk management framework;
• internal controls are sufficient to ensure that significant financial, managerial, and operating information is accurate, reliable, and timely;
• employees’ actions comply with the CIB’s policies and applicable laws;
• systems and resources are managed economically and efficiently and the operations of the CIB are carried out effectively;
• measures exist to monitor the effectiveness of internal controls, systems and processes; and
• quality and continuous improvement are embedded in control processes.