The Superintendent of Banks, Alejandro Fernández W., highlighted the fundamental role played by external auditing to guarantee the robustness of the financial system, thanks to the fact that it contributes to the transparency and reliability of the economic and financial information of the supervised intermediation entities.
Fernández W. expressed himself in these terms during the conference External Audit in Financial Intermediation Entities: current strengths and challenges, organized by the Superintendency of Banks (SB) on the occasion of the Day of the Public Accountant. This activity included presentations by relevant national and international speakers and brought together nearly 250 auditors and executives from firms, and presidents of the audit committees of Financial Intermediation Entities.
“The supervision of the quality of the audits carried out by the SB is a key component of our mission to protect depositors, shareholders, investors, creditors and other interested parties, and to preserve the stability, solvency and efficiency of the financial system. ”, assured Fernández during the opening speech of the activity, held in a hotel in this city.
Similarly, the superintendent stated that the SB’s commitment to maintaining a robust financial system leads to a continuous dialogue with external auditors and audit committees.
He also said that the work carried out by external auditors is characterized by its public relevance, because they provide a service that is of interest not only to entities, but also to their clients and the general public.
“For the SB it is a great satisfaction to carry out this congress, whose objective is to contribute to the strengthening of the external audit function in financial intermediation entities”, he reiterated.
The congress had Joaquín Gutiérrez, an international expert in financial supervision and prudential regulation, as its first speaker, with the conference Expectations of the Basel Committee on the external audit of financial intermediation entities.
Next, Luis Cortavarría, an international expert in public policies related to the financial sector, spoke about the role of external auditors in the context of financial crises: myths and realities.
Similarly, Erich Schumann, former president of the Professional Issues Committee of the Institute of Internal Auditors, spoke about the Future of external auditing in the era of digital transformation.
He was followed by Yulianna Ramón, assistant manager of Regulation and Innovation of the SB, who shared the topic Annual report on the results of the quality review program of external audits.
The attendees also attended the panel Current affairs and perspectives on the external audit of financial intermediation entities: strengths and challenges, made up of Maylen Guerrero, managing partner of the Ernst & Young office; Mario Torres, executive partner of KPMG Dominicana, and Ivelisse Mieses, board member and president of the audit committee of Banco BHD, with the moderation of José Guillermo López, director of Internal Audit of the SB.
To conclude the activity, Elbin Cuevas, Deputy Manager of Supervision, spoke about the Expectations and final considerations for external audit firms and audit committees.