In order to strengthen the communication with financial holding companies and improve the effectiveness of internal audit mechanisms, the FSC held a colloquium for chief internal auditors of 16 financial holding companies on Oct. 23, 2020.

The session topics included the primary examination findings of interested-party transactions management, the governance and oversight of the subsidiary companies, the introduction of new online submission data function and FAQ.

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.