From Open Risk Manual


BCBS 5 is a document published by the Basel Committee on Banking Supervision on July 1989 in the Supervision category.


The relationship between bank supervisors and external auditors.


This statement has been prepared in association with the Committee on Banking Regulations and Supervisory Practices ("the Basle Supervisors' Committee"). It was approved for publication by the International Auditing Practices Committee and by the Basle Supervisors' Committee at their respective meetings in March 1989. It has a common release date of July 1989.

Banks play a vital role in economic life and the continued strength and stability of the banking system is a matter of general public concern. The separate roles of bank supervisors and external auditors are important in this regard. The growing complexity of banking makes it necessary that there be greater mutual understanding and, where appropriate, more communication between the bank supervisors and external auditors. The purpose of this Statement is to provide information and guidance on how the relationship between bank auditors and supervisors can be strengthened to mutual advantage. However, as the nature of this relationship varies significantly from country to country the guidance may not be applicable in its entirety to all countries. The International Auditing Practices Committee and the Basle Supervisors' Committee hope, however, that it will provide a useful clarification of the respective roles of the two professions in the many countries where the links are close or where the relationship is currently under study.

Document Profile

  • Publication Date: July 1989
  • Publication Type: Sound Practices
  • Publication Status: Superseded
  • Publication Category: Supervision
  • Number of Pages: 21
  • Keywords: Audit

See Also


For definitive information on regulatory matters always consult primary sources, especially where it concerns legally binding rules and regulations.

The above regulatory document abstract is quoted verbatim in this Open Risk Manual entry and provided free of charge for the convenience of all internet users. There is no explicit or implicit endorsement of this web service by the Bank of International Settlements. The copyright of the included material rests with the original authors (Links to the original texts are duly provided).