Strengthening Financial Governance Through Collaborative Auditing

The importance of cooperation among internal and external auditors, as well as between auditors and regulatory authorities, was a central theme at a recent regional conference in Tirana.

Addressing an audience of audit professionals and institutional representatives, the Governor of the Bank of Albania highlighted how effective internal auditing serves as more than just a control mechanism—it acts as a strategic partner in advancing institutional goals, safeguarding integrity, and managing risks. He detailed the Bank’s ongoing commitment to professional development, emphasizing investments in advanced training, international certifications, and the adoption of risk-based audit methodologies. Structural reforms, such as the establishment of an Internal Audit Committee and closer alignment with global best practices, underscore this dedication. The Governor stressed that robust cooperation between internal and external auditors, complemented by close coordination with supervisory departments, is crucial for coherent risk management and strong internal controls. Furthermore, in an era marked by rapid digitalization, increased cyber risks, and environmental concerns, such collaboration becomes even more vital to maintain financial stability and public trust. Conferences like this serve not just as networking opportunities but as essential forums for sharing expertise and fostering a unified approach across institutions and countries.

This emphasis on partnership and continuous improvement not only strengthens the foundations of financial governance but also ensures resilience and credibility across the broader financial sector.