Tag Archives: internal audit

Regulators Support Basel Guidance on External Audits for Largest Banks

The FDIC, OCC and Federal Reserve today issued a joint advisory supporting the Basel Committee’s March 2014 external audit guidance for large, internationally active banks and offering recommendations for addressing the differences between U.S. standards and practices and those specified by the Basel guidance.

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Internal Audit, COSO Peer Groups Formed

Since the Sarbanes-Oxley Act of 2002, banks have placed increased focus on internal audit. In response to member requests, ABA has formed peer groups for internal auditors and groups for those coordinating implementation of the updated COSO internal control framework.

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