By an unbiased examination of the operation of Latvijas Banka, the internal audit provides the management of Latvijas Banka with an independent assessment of the effectiveness of risk management, control systems and processes and advises on their improvement. At Latvijas Banka, the internal audit is conducted by the Internal Audit Department. The internal audit is organised and conducted in accordance with "The Internal Audit Policy of Latvijas Banka", approved by the Council of Latvijas Banka, and the Internal Audit Department Regulation.

As regards the Eurosystem and the European System of Central Banks (ESCB), the internal audit is carried out by the Internal Auditors Committee, composed of internal audit experts, basically the heads and deputy heads of the internal audit function of the national central banks and the European Central Bank. The internal audit of the Eurosystem and the European System of Central Banks is organised and carried out in accordance with the Audit Charter for the Eurosystem/ESCB and the Single Supervisory Mechanism.