Chartered Institute of Internal Auditors, Fastpath Expand Partnership Ahead of UK Corporate Governance Reform Deadline

Fastpath, a global firm focused on application governance, risk, and compliance, is expanding its partnership with the Chartered Institute of Internal Auditors (Chartered IIA), the internal audit firm focused on standards, certification, education, research, and technical guidance in the UK and Ireland.

The alliance will help “to promote how technology can be used to support Chartered IIA members in simplifying and accelerating the audit process by automating key processes and reducing manual effort ahead of a key 2025 deadline for UK Corporate Governance Reform.”

Fastpath is committed to offering “a complete picture of identities and their purpose, supporting firms in adopting application strategies, and implementing design processes that improve efficiency and control.”

As companies plan for the implementation of UK Corporate Governance Reform in early 2025, developing a comprehensive plan “for compliance and securing assets has never been more important, as these proposals will have an immediate effect on how boards and governance teams approach corporate reporting.”

Charles Snellgrove, CEO of Fastpath, said:

“Many companies will be subject to the UK corporate governance regime, and now is the time to begin the journey to prepare for the new requirements. We are thrilled to be expanding our collaboration with the IIA in the UK and Ireland, and are committed to assisting its members in reducing the time, costs, and complexities associated with audit processes and reporting to prove compliance“.

Fastpath will work with the Chartered IIA “to inform the industry how technology can facilitate and enhance the internal audit process, improve accuracy and save time as well as money.”

On October 3-4, the Chartered IIA will be “hosting their annual Chartered IIA Internal Audit Conference in London where Fastpath will not only be speaking but also sponsoring the event.”

Anne Kiem, Chief Executive of the Chartered IIA, said:

“Expanding our relationship with Fastpath is an obvious business decision for us given the increasing use of technology and automation within internal audit functions and the tangible benefits it provides our members. We look forward to deepening this strategic partnership ahead of the corporate reporting reforms.”

The upcoming UK corporate governance reforms will aim “to enhance transparency as well as accountability in financial and non-financial reporting.”

Due to this, companies must “review and report their performance.”

The Chartered IIA’s dedication to “promoting and upholding internal audit standards coupled with Fastpath’s extensive experience in risk management and internal controls will be a new and vital tool for Chartered IIA members to utilize, and benefit from, as the implementation of the UK Corporate Governance Reform continues to progress.”

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