Regulatory Alerts2015-09-02 | 67/2015Bank of Albania Regulation 67/2015 on the Internal Audit System
The Supervisory Council of the Bank of Albania issued Regulation 67/2015 to establish comprehensive rules governing the organization, functions, and oversight of internal audit systems across licensed banks and foreign bank branches in Albania. The regulation mandates the establishment of independent Internal Audit Units staffed by qualified professionals, clearly delineating responsibilities among the Executive Board, Audit Committee, Directorate, and risk/compliance units. It further requires banks to implement a risk-based audit methodology, maintain robust reporting and documentation standards, and ensure continuous evaluation of internal controls in alignment with international auditing standards.
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