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 November 12.

The session topics included the primary examination findings for real estate loans and senior financial consumer protection , the introduction of “Principles for Effective Financial Examination”, and the importance of corporate integrity , as well as recent amendments of the Act Governing Electronic Payment Institutions.

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.