CBCG’s Internal Audit Harmonised with Relevant International Standards

04/10/2023

The CBCG received a Certificate of its Internal Audit’s General Compliance with the International Professional Practices Framework (IPPF) of Internal Auditing and the Code of Ethics of the Institute of Internal Auditors (IIA) at the seminar held in Tbilisi, Georgia, from 3 to 5 October. It confirms the complete internal audit’s independence within the CBCG following international standards and best practices.

The awarding of the certificate is the final stage of the external assessment of the quality of the CBCG’s internal audit work carried out by the De Nederlandsche Bank team. Reviewers from De Nederlandsche Bank visited the CBCG this May and directly analysed the organisation, procedures, activities and relevant internal audit policies of the CBCG.

The seminar in Tbilisi, titled “Internal Audit in the Context of Governance” brought together representatives of central banks from the member states of the Belgian-Dutch Constituency in the IMF and the World Bank and from the Baltic and other Eastern European countries and the countries of the Caucasus and Central Asia and discussed the role of modern internal audit in the central banks’ management processes and the challenges in the context of further development of international standards and their harmonisation.

Ana Krsmanović, Chief Internal Auditor, and Lidija Jovanović, Senior Internal Auditor, attended the seminar on behalf of the CBCG.