In order to improve the effectiveness of internal audit mechanisms, the FSC held a colloquium for chief internal auditors and internal auditors of 23 credit cooperatives on Nov. 20, 2024.

In the session, the FSC demonstrated the primary findings and remedial measures of full-scope examinations on credit cooperatives and targeted examinations on real estate credit and consumer protection. The recent supervisory focus of credit cooperatives was also presented. Other topics including civil service ethics and gender equality were advocated at the same time. The FSC responded to the internal control and internal audit issues addressed by attendees to assist in strengthening their internal audit operations.

With two-way communication, it allowed credit cooperatives to better understand the supervisory concerns and the examination focuses. The FSC will hold the colloquium periodically in the future to facilitate the sound development of the credit cooperative industry.