XVII Meeting of Internal Auditors of Central Banks

Inauguration and Opening of the Meeting

Luis Enrique Pardo Merino, Director of Internal Audit, Banco de España, and Roberto Marino López, Advisor to the General Management, CEMLA, welcomed the meeting. They highlighted the presence of a significant number of experts in internal auditing from various regions of the world, such as Latin America, North America, Europe, and Asia. The large participation in this meeting demonstrated the importance of the topic for central banks. They noted that it is extremely satisfying to continue holding these Internal Auditors' Meetings, as they provide a great learning experience for all participants.

They noted that heads of internal audit from various central banks, as well as other audit experts from international organizations, would share their countries' experiences on various topics of interest in this area of expertise. The various speakers explored the transformation of the internal auditor's role and daily work to make a strategic contribution to their organizations. They addressed how to broaden the auditor's perspective to substantive aspects and how to improve their methods by incorporating technology and developing new skills, based on reflection on recent experiences and future prospects.

They emphasized that the theme of this meeting is fundamental to promoting the proper functioning of modern central banking. Maintaining confidence in the integrity of the central bank is essential to ensuring the proper functioning of the economic environment.

They emphasized that internal auditing has a very complex task, as it involves identifying the risks to which the bank is exposed, whether material or reputational, advising on appropriate controls, and ensuring that the control systems operate effectively, from the third line of defense.

The first session, on the integration, execution, and monitoring of the Banco de México's Annual Audit Plan, was led by Nora Brenda Reyes Rodriguez of the Banco de México.

The second session, titled Task Automation and the Application of AI at the Banco de España was presented by Francisco José Maregil Nieto of the Banco de España.

In the third session, Pilar Sanchez de Pablos and Javier Díez Castro of the Banco de España presented topics related to European regulations on artificial intelligence and artificial intelligence auditing.

The fourth session, addressed the challenges of artificial intelligence for internal auditing. The presentation was given by Silvia Quintard of the Banco Central de Chile.

In the fifth session, Isabel Moreno of the Banco de España presented technological trends in internal auditing.

In the sixth session, Fabio Lupo of Banca d'Italia presented the evaluation of internal audit performance in central banks.

In the seventh session, the presentation focused on environmental, social, and governance (ESG) criteria, led by Nora Esperanza Jiménez Méndez of the Banco de la República, Colombia.

In the eighth session, the topic of Business Continuity at the Banco Central de Chile was addressed. The presentation was given by Silvia Quintard of the Banco Central de Chile.

In the ninth session, Maribel Lizano Barahona of the Banco Central de Costa Rica spoke about the concept of indicator monitoring.

In the tenth session, a panel discussion was held on experiences with the implementation of the Global Standards on Internal Auditing. Presentations were given by Javier López of the Banco Central de Uruguay and Jaildo Lima de Oliveira of the Banco Central de Brasil.

In the eleventh session, Jesús Machín Calle of the Banco de España presented aspects of software regulatory compliance.

In the twelfth session, the operation and functions of the Banco de España's data office were presented by Sergio Padilla Foubelo of the Banco de España.

In the thirteenth session, Carlos Conesa Lareo of the Banco de España presented various aspects of the digital euro.

In the fourteenth session, compliance with global internal audit standards was discussed. The presentation was given by Gabriela Gonzalez-Valdés of the Instituto de Auditores Internos de España.

The meeting was closed by de Luis Enrique Pardo Merino, Director of Internal Audit, Banco de España, and Roberto Marino López, Advisor to the General, Director, CEMLA. They emphasized that it had been a very fruitful meeting, with a great exchange of ideas and experiences. It was mentioned that the next meeting of internal auditors of central banks would be held in 2027 at a location yet to be determined.