Internal Audit

The role of the Internal Auditor is to provide independent and objective assurance and advice designed to add value and improve the Bank's operations. The Internal Auditor has a direct channel to the Board of Directors which underlines the Internal Auditor's independence. The Internal Auditor is Sigríður Guðmunðsdóttir.

The activities of Internal Audit are governed by the internal audit charter, directive No. 3/2008 issued by the FME on the internal audit function in financial institutions and international standards on internal auditing. All audit work is completed by issuing an audit report with deadlines for the implementation of audit findings and these are followed up on.

The scope of the audit is the Bank, its subsidiaries and some of the pension funds serviced by Arion Bank.