SBG at Westminster: Exploring the Future of Internal Audit
SBG at Westminster: Exploring the Future of Internal Audit
Somerset Bridge Group recently joined Internal Audit professionals from across the UK at a Parliamentary Reception at the Houses of Parliament, exploring how Internal Audit can help shape stronger and more effective corporate governance.
Dan Wilde and Christine Oldridge attended the event, which was hosted by Mary Glindon MP on behalf of the Chartered Institute of Internal Auditors (CIIA) and focused on the theme Modernising Corporate Governance with Internal Audit.
Reflecting on the day, Dan said:
“It was great to attend the reception at the Houses of Parliament and hear from people who are equally passionate about the role Internal Audit can play in helping organisations make better decisions.”
The Growing Role of Internal Audit
The event featured speeches from Sarah Olney MP, Liberal Democrat Business Spokesperson, and Richard Moriarty, Chief Executive of the Financial Reporting Council.
Both spoke about the value Internal Audit can bring to organisations through independent assurance, constructive challenge and insight.
For Dan, one of the most interesting discussions of the day centred around examples of governance failures outside of the financial services sector.
“It was particularly interesting to hear about some of the high-profile governance failures outside financial services and how the absence of robust governance arrangements, including dedicated Internal Audit functions, had contributed to organisational shortcomings.”
Sharing SBG’s Approach
The reception also gave Dan and Christine the opportunity to meet Internal Audit professionals from a wide range of sectors, exchange ideas and discuss emerging trends and leading practices within the profession.
It was also a chance to talk about some of the ways SBG is developing its own approach to Internal Audit, including our use of issues rather than recommendations and working collaboratively with stakeholders to agree management actions.
Dan also shared how the team is using AI to support the summarisation of audit findings and reporting.
“It was really valuable to share some of the things we’re doing differently at SBG. Our approach to recommendations, the way we work collaboratively with stakeholders and our use of AI generated a lot of interest and some really positive conversations.”
Bringing New Ideas Back to SBG
Beyond the unique setting of the Palace of Westminster, the reception provided an opportunity to hear different perspectives on the future of Internal Audit and how the profession can continue to support better governance and decision-making.
“It was a brilliant opportunity to represent SBG, meet Internal Audit professionals from across different sectors and share what we’ve been working on. It was also really useful to hear how others are approaching similar opportunities and challenges.”
The event was a great opportunity for Dan and Christine to represent SBG, contribute to the wider conversation around modernising Internal Audit and bring new ideas and perspectives back into the business.
