To strengthen bilateral communication with financial holding companies and raise the effectiveness of this industry’s internal control and internal audit system, the FSC convened a colloquium for chief internal auditors of fifteen financial holding companies on Nov. 12, 2024. The top three financial holding companies performing well in internal audit function were awarded and commended by the chairperson of the FSC during the colloquium.

The supervisory session topics covered "Key examination findings regarding financial holding companies’ overseeing and managing function on subsidiaries", "Credit risk and internal control management by foreign branches of bank subsidiaries" and "The scope and procedure for assessing the performance of internal audit unit’s function, the major types of adding/deducing points to the base score", which were aimed at facilitating participants’ mutual learning and sharing of own experience. In addition, the decrees of consumer protection and gender equality were disseminated by the FSC’s Ethics and HR officials. An unconstrained-theme QA session was also arranged to exchange mutual opinions and expectations toward the carrying out of internal audit function.

The bilateral communicative colloquium benefited financial holding companies better understand the FSC’s supervisory concerns and examination focuses. The FSC will continue to host such colloquiums in due course to sustain effective communication with the stakeholders.