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By Karel Å LAJS, Grant Thornton ABAX Consulting
In recent years we have witnessed considerable changes in the Luxembourg regulatory framework which have led to a notable shift in the way in which companies, especially those within the financial services industry, view and utilise their internal audit functions. In this respect, many companies have begun to perceive their internal audit function less as a traditional “tick in the box” checklist control function that is one whose main objective is to ensure basic regulatory compliance and more of a consultative function to the management and boards alike. A partner to the business, that focuses on and develops its long-term strategy and work plans based on the key risks faced by the organisation and aligned to...
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