Strengthening Governance Through Auditors' Collaboration

At a regional conference in Tirana, the importance of cooperation among internal and external auditors, as well as between institutions central to governance, was brought to the forefront.

The main theme highlighted the elevated role that internal auditing now plays in today’s complicated financial landscape, far surpassing its traditional function of oversight. Emphasizing how auditors act as both strategic partners and guardians of institutional integrity, Sejko described recent initiatives, including investments in ongoing professional development, international certifications for auditors, and the transition to risk-based audit methodologies. Notably, he referenced the establishment of an Internal Audit Committee, which was pivotal for increasing audit independence and quality within the Bank of Albania.

Sejko underscored that robust governance cannot rest on internal audit alone; instead, effective risk management and institutional trust require seamless cooperation among internal auditors, external audits, and supervisory authorities. This collaborative structure ensures clear responsibilities and builds public confidence. As financial institutions adapt to challenges such as digital transformation, rising cyber risks, and sustainability pressures, the need for dialogue and knowledge exchange—facilitated through conferences like this one—emerges as crucial for financial stability and transparency.

This focus on teamwork and continual professional growth marks a commitment to both stronger governance and greater resilience within financial institutions.