Internal Audit Department

The Internal Audit Department (IR) is responsible for independently evaluating the Riksbank's operations. The main task of the Department is to perform internal audits at the request of the Executive Board in accordance with the Riksbank's Working Order and Instructions. The department examines and judges whether the Bank's risk management, control processes and management procedures are expedient given the objectives that have been stipulated for the Riksbank's activities. An additional task of the department is to contribute to enhancing these processes as well as making them more efficient. Furthermore the department conducts internal audits at the request of the Internal Auditors' Committee (IAC) within the European System of Central Banks (ESCB).

The Riksbank's internal auditing is carried on independently of other operational activities at the Bank. The Executive Boards decides on the audit plan and receives regular reports on completed audits. The internal audits are conducted according to generally accepted standards in the field, which means that the audits are carried out in accordance with standards drawn up by the Institute of Internal Auditors (IIA) and the Institute System Audit and Control Association (ISACA).