both are good. but honestly, as a PP has mentioned, IT audit gives you skills such as risk & control assessment & remediation, regulatory / compliance exposure.

my personal view is that if you want to go overseas, IT audit is much easier to get you on that ticket - you can imagine they will need audit talent in Aust / US / UK / Canada. all the big corporate HQs are always located in those countries.

Bank IT - dude, you are in Asia. The big US / European banks see you as cost centre. if all they need is to move cost centre from A (Singapore) to B (Philippines / India), that is what will happen. Also, bank technology is abit backwards due to past few years of under-investment. you need to have legacy support skills or always have to develop your front-line coding skills if you want to be in cutting-edge.

either way, no preference for either, but I was an IT auditor and I now live (or rather, have settled) in London