Internal auditing - External auditing – supervising authority in banking (II). Tangency points

Author:University Professor, PhD. Dumitru MATIŞ, Univ. lecturer, PhD Cristina Alexandrina PALFI

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Keywords:objectives, relations, complementarities, consultation, differentiates, cooperation

Abstract:
In the analysis the authors proposed in the first part of this article (see "Audit Financiar" nr.5/2006) it is argued that there is an obvious convergence of the interests of the three entities: internal audit - external audit - oversight authority for the banking activity, this being obvious from their role in this area. \r\n\r\nIn the second part of the article there are presented some concrete issues related to some possible errors and needs for cooperation. \r\n\r\nThe conclusion the authors arrive to is that the cooperation between the oversight authority, internal auditors and external auditors is meant to be as effective and efficient as possible. This cooperation is based mainly on periodic meetings. However, in many countries these bodies met on a random basis and discuss the result observed, especially when reviews are conducted. In few countries, however, the oversight authority organizes periodical meetings with internal and external auditors of the credit institutions.

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