Philippine National Bank’s (PNB) Internal Audit Group was given the highest rating by auditing firm, Punongbayan & Araullo (P&A), in conformance with the Institute of Internal Auditors’ (IIA) Standards and Code of Ethics. The group was rated 87% which is higher than the banking industry average of 84% – proof of the bank’s commitment to uphold the best practices in internal auditing. The rating is based on the 2022 Independent External Quality Assessment conducted by P&A.
An external assessment at least once every five years is a requirement of the Bangko Sentral ng Pilipinas under the Manual of Regulations for Banks and the International Professional Practice Framework. P&A is a member firm within Grant Thornton International Ltd, one of the world’s leading organizations of independent assurance, tax, and advisory firms.
Philippine National Bank News