BIS promotes solid bank audits in wake of scandals

SWITZERLAND - Accounting scandals that have plagued the U.S. corporate scene have highlighted the need for banks to have rigorous internal audit functions, the Bank of International Settlements (BIS) said on Wednesday in a report.

The BIS highlighted the fact that its survey of 71 banks across 13 countries showed the industry is abiding by BIS principles of having an independent and competently staffed internal audit function.

Arnold Schilder, Chairman of the Basel Committee's accounting task f

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: