Internal audit

In 2019, the Internal Audit Department performed audit tasks in the Bank, in the Bank’s Subsidiaries, in third party companies to which, where permitted by law, the Bank outsourced the performance of banking and banking-related activities and within the Millennium BCP Group. The Department’s planned activity covered, among other things, the performance of audits of key business processes and support processes, as well as financial audits of branches and compliance with external regulatory requirements. Tasks performed by the Internal Audit Department also included explanatory proceedings and preventive inspections.

The Internal Audit Department is an independent unit reporting to the Chairman of the Bank’s Management Board, which delivers results of its activities to the Audit Committee of the Supervisory Board and to the Bank’s Supervisory Board. The results of the operating review of the entire internal control system and of its selected elements are presented regularly and evaluated by the Audit Committee of the Bank’s Supervisory Board.