Internal Audit

Internal Audit operates independently of other units in carrying out internal auditing of the Bank of Finland and the Financial Supervisory Authority. Internal auditing is an independent and objective assessment, assurance and consulting activity designed to add value for the Bank of Finland and the Financial Supervisory Authority and to provide recommendations to further improve their operations. Internal Audit supports the Bank of Finland and the Financial Supervisory Authority and their senior managements in the achievement of their objectives by evaluating the appropriateness and efficiency of risk management, internal control, management and governance processes.

The key professional services provided by Internal Audit include assessments of the operational reliability of processes, functions and systems.

The department participates in the work of the Internal Auditors Committee of the ESCB and the SSM. A significant proportion of the audits are carried out as joint initiatives coordinated by the Internal Auditors Committee.

Internal Audit coordinates cooperation with the Bank of Finland’s auditors.

See also

FIN-FSA's Operating Principles of Internal Audit (in Finnish, pdf)

Audit charter for the Eurosystem/ESCB and the single supervisory mechanism (pdf)