Tasks
Ensures the internal audit function at Latvijas Banka.
By an unbiased examination of the operation of Latvijas Banka, the internal audit provides the management of Latvijas Banka with an independent evaluation of the effectiveness of risk management, control systems and processes as well as provides advisory services on their improvement.
The internal audit at Latvijas Banka is conducted by the Internal Audit Department. The internal audit is organised and conducted in accordance with the Internal Audit Policy of Latvijas Banka adopted by the Council of Latvijas Banka and the Global Internal Audit Standards established by the Institute of Internal Auditors.
As regards the Eurosystem, the European System of Central Banks (ESCB), and the Single Supervisory Mechanism (SSM), the internal audit is carried out by the Internal Auditors Committee, composed of internal audit experts, mainly the heads and deputy heads of the internal audit function of the national central banks, national supervisory authorities, and the European Central Bank. The internal audits of the Eurosystem, the European System of Central Banks, and the Single Supervisory Mechanism are organised and conducted in accordance with the Audit Charter for the Eurosystem/ESCB and the Single Supervisory Mechanism.