The Governor of the Bank of Albania, Gent Sejko, praised the role of internal audit as a “fundamental pillar of financial stability, integrity and reliability”.

During his welcoming speech at the International Conference of Auditors, held in Tirana on Monday, Sejko stressed that the fact that Albania welcomes for the first time a high-level global and European representation in the field of internal audit is clear evidence of the progress that Albania has made in strengthening institutions, good governance, and the architecture of transparency.

The Governor commended the commitment of the Institute of Internal Auditors in Albania (IIA Albania), the Albanian Association of Banks, and the Internal Audit Committee to strengthening the profession and raising audit standards in the country.

According to him, in conditions where the financial sector faces challenges such as digitalization, technological innovation, and cyber risks, internal audit has taken on an increasingly strategic role.

“It is not only a control instrument, but an essential function for risk prevention, process improvement, and support for sound decision-making,” said Sejko.

The Governor emphasized that the Bank of Albania has continued to consolidate internal audit as a third line of defense, through external quality assessments, strengthening reporting, and involvement in strategic projects for operational risk management and business continuity.

Referring to the Global Internal Auditing Standards 2025, Sejko said that harmonization with European and international standards constitutes an important step towards modernizing the profession and strengthening institutional quality.

He expressed his belief that cooperation between public institutions, the banking sector, and international partners will contribute to strengthening governance and financial stability in Albania.

Also present, the Minister of Finance, Petrit Malaj, stated that internal audit constitutes one of the main pillars of good governance, transparency, and financial integrity, while for the Ministry of Finance, it is an important priority of the public financial management reform, also within the framework of the European integration process.

In this context, Malaj emphasized that concrete steps have been taken to transform the role of the internal auditor and to bring it closer to the most advanced international standards.

Among the most important steps, the minister mentioned the drafting of the new internal audit manual, which serves as a basis for establishing a contemporary model for accountable and professional control in public administration, the opening of the professional certification process for internal auditors, with modules supported by OECD/SIGMA, as a long-term investment in human capital, for building professional capacities, as well as for creating a sustainable national certification system, based on international best practices, as well as the translation and institutional adoption of the Global Internal Auditing Standards, a process that has been carried out through cooperation between the Ministry of Finance and IIA Albania.

These steps, said the minister, constitute clear evidence that Albania is building an audit system that is based on quality, integrity, and reliability.