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 issued this paper to clarify the roles and responsibilities of banking supervisors and external auditors. It outlines the necessary cooperation and information sharing mechanisms to enhance the effectiveness of bank supervision and audit functions. The guidance aims to strengthen corporate governance and internal controls within authorized institutions by defining clear boundaries for supervisory and audit activities.
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