On October 30, 2014, at a working meeting held at the National Bank of Georgia, Bank supervisors introduced the framework of “risk-based supervisory approaches” implemented by the National Bank to the auditors of G4.

During the meeting, special focus was made on the principles of credit risk assessment, issues of consolidated supervision and capital adequacy.

“It must be noted that together with growth and development of banking sector, business models and structure of banks becomes more complex. Nowadays, in many different directions, bank supervisors and external auditors face common challenges. Therefore, it is important to share information and cooperate in order to more effectively manage supervision and audit activities. Important steps were taken recently in this direction, both globally and locally” – stated Otar Nadaraia, Vide-President of the National Bank. 

The National Bank of Georgia plans to continue active cooperation with external auditors.