The Relationship between the Supervisory Authority, the Internal Auditor and External Auditors As the work carried out by the internal auditor involves review of the internal controls, risk management and governance processes, the supervisor holds consultations with the internal auditors to discuss the functioning of the internal audit department and the findings of the department, particularly in areas presenting a significant risk and reviews the internal audit reports to identify control problems and areas of potential risks.
2/4  BIS central bankers' speeches  In many respects, the work of banking supervisors and external auditors may be perceived as complementary as they often look at the very same issues from a different point of view.