In order to improve the effectiveness of internal audit mechanisms, the FSC holds a colloquium for chief internal auditors of domestic banks periodically, and this year, the colloquium was held on October 30.

The session topics included matters concerning internal audit focuses on AML review, the introduction of new online submission data function for financial institutions to upload the related examination data before on-site examination, and the importance of corporate integrity and trade secrets as well as the shared experiences on how to improve audit skills of uncovering staff’s misconduct, presented by 4 domestic banks.

During the meeting, the FSC exchanged a wide range of opinions on topics, including recent supervisory issues and critical audit matters with all participants. With two-way communication, it allowed financial institutions to gain a better understanding about the supervisory concerns and the examination focuses.