Dominican Republic Superintendency of Banks convenes fifth congress for external audit firms to promote best practices and supervisory expectations

The Dominican Republic Superintendency of Banks held the fifth edition of its congress for external audit firms to promote dialogue on trends, best practices and current challenges in the external audit of financial intermediation entities, framed as an exchange between auditors and supervisors to strengthen audit quality and effectiveness. Opening the event, Superintendent Alejandro Fernández W linked supervisory effectiveness to a more complex risk environment and stressed prudential operation as part of safeguarding financial system stability and solvency. The programme included a presentation by the Superintendent of Banks of Panama on challenges in bank external audits, including effective implementation of International Financial Reporting Standards, and a panel on collaboration and communication between external audit, internal audit and supervision with speakers from Peru’s Superintendency of Banking, Insurance and Pension Funds Administrators, KPMG Dominicana and Banco Múltiple Caribe Internacional. Sessions also covered audit approaches to assessing banks’ information technology systems and the Superintendency’s expectations for external audit, including key guidelines and criteria.