The Superintendent of Banks, Mr. Amauri A. Castillo, participated in the 2024 XXVIII Latin American Congress on Internal Audit and Risk Assessment (CLAIN), held in Panama on June 27 and 28, 2024.
During the congress, the Superintendent delivered a presentation titled “Vision of Risk Management and Internal Audit,” highlighting the role of internal audit in banks and its importance to the Superintendency of Banks of Panama (SBP) in the supervision process.
Key topics addressed included “The Basic Principles for Effective Supervision,” “Corporate Governance Principles Issued by the Basel Committee on Banking Supervision”, and “The GRENP Rating System” – focusing on Corporate Governance (Control Environment and Risk Management). These tools, developed by the SBP, aid in internal audit evaluation with the creation of internal audit questionnaire, defining the main internal audit criteria in rules, and the transformation and innovation of internal audit.
The congress’s main objective, organized by the Latin American Federation of Banks (FELABAN) and the Panama Banking Association (ABP), was to continue updating and exchanging knowledge, experiences, and trends related to internal audit management and risk assessment in the region.
CLAIN 2024 was attended by bankers, senior representatives of financial entities, and other industry stakeholders.
