This is because I consider it appropriate for the Bank to conduct monetary policy that in some way supports households and firms that have been negatively affected by the government's measures to restrain economic activity with the aim of containing the spread of the disease.
Strong internal control, including an internal audit function, and an independent external audit are part of sound corporate governance which in turn can contribute to an efficient and collaborative working relationship between bank management and bank supervisors. An effective internal audit function is a valuable source of information for bank management, as well as bank supervisors, about the quality of the internal control system.