In our stride towards ensuring sound corporate governance, the role of internal audit has become more critical. The thrust of my presentation today will be on the Role of internal audit in the Bank and the institutions that we supervise. The internal audit function is one of the fundamental “checks and balances” for sound corporate governance.
Now more than ever, a robust and objective internal audit function, with the skills to identify risk control problems and the authority to pursue its concerns, is essential to the proper discharge of directors’ responsibilities. It is, as well, a firm ally of the prudential regulatory authority.