CBK Internal Audit receives the highest level of international conformance in independent reassessment conducted by the Central Bank of the Netherlands

The Central Bank of the Republic of Kosova (CBK) announces that its Internal Audit function has successfully completed an external quality reassessment process and has been awarded the rating “Generally Conforms” in accordance with the International Professional Practices Framework (IPPF 2017) Standards for the Professional Practice of Internal Auditing.

This rating represents the highest level of conformance that can be achieved under these standards and constitutes independent international confirmation that the CBK’s Internal Audit function operates in compliance with professional requirements, international standards, and recognizes best practices in internal auditing.

The reassessment was conducted by the external assessment team of the Central Bank of the Netherlands (De Nederlandsche Bank – DNB), an institution with extensive expertise within the Eurosystem in the areas of governance, internal control, and internal auditing. The process was carried out as a follow-up to the External Quality Assessment conducted in 2023 and reflects the progress achieved by the CBK in addressing previous recommendations and further advancing the Internal Audit function.

The outcome demonstrates that the recommendations and issues identified during the previous assessment have been successfully addressed through measures aimed at strengthening the governance of the function, the quality assurance and improvement program, the audit methodology, as well as the mechanisms for monitoring the implementation of audit recommendations.

This assessment is of particular strategic importance to the CBK, as it confirms the maturity, effectiveness, and professionalism of the Internal Audit function as a key component of institutional governance, accountability, transparency, and internal control. Achieving this level of conformance provides clear evidence of the CBK’s commitment to establishing and maintaining high institutional standards in line with the expectations of central banking institutions and the most advanced international practices.

The CBK expresses its appreciation and gratitude to the Central Bank of the Netherlands for its professionalism, expertise, and support throughout this important external assessment process.

This achievement was made possible through the dedication of the Internal Audit function, the support of all management and oversight structures of the Central Bank, and the institution-wide commitment to the continuous advancement of good governance, internal auditing, and professional standards within the CBK.

The CBK remains committed to further developing and enhancing its functions in accordance with professional standards and international best practices, thereby contributing to the continued strengthening of institutional governance and the achievement of its strategic objectives.