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

LONDON, Sept. 27, 2023 /PRNewswire/ -- Fastpath, a global leader in application governance, risk, and compliance, is expanding its partnership with the Chartered Institute of Internal Auditors (Chartered IIA), the internal audit leader in 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 best-of-breed 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.

"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," said Charles Snellgrove, CEO of Fastpath. "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. 

"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," said Anne Kiem, Chief Executive of the Chartered IIA. "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.

About the Chartered IIA
The Chartered IIA represents around 10,000 internal audit professionals in organisations spanning all sectors of the economy, across the UK and Ireland. It champions the contribution internal audit makes to good corporate governance, strong risk management and a rigorous control environment leading to the long-term success of organisations, including those in the public sector.

About Fastpath
Fastpath is a leading provider of innovative Identity Governance and Administration (IGA) and Governance, Risk, and Compliance (GRC) solutions. We empower businesses to manage identity and access risks, ensuring robust security and regulatory compliance across multi-site, multi-application environments. Our comprehensive platform enables companies to gain deep insights into identity and access risks, allowing them to take proactive measures to prevent fraud and protect their sensitive information and critical resources. Find out how we can help you make informed strategic decisions confidently, knowing your organization is fully secure and compliant, by visiting: www.gofastpath.com