Regulatory Alerts2002-02-05
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Basel Committee on Banking Supervision's Paper on The Relationship between Banking Supervisors and Banks' External Auditors
The Basel Committee on Banking Supervision and the International Auditing Practices Committee issued this guidance to strengthen the relationship and mutual understanding between banking supervisors and external auditors. The document outlines the distinct but complementary roles of bank management, external auditors, and supervisors, emphasizing the need for effective communication to enhance audit quality and supervisory effectiveness. It provides recommendations for improving coordination and dialogue to address the growing complexity of banking operations and ensure systemic stability.
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