TY - BOOK ID - 85503943 TI - External Audit Arrangements at Central Banks AU - Arda, Atilla. AU - Gororo, Martin. AU - Grochalska, Joanna. AU - Mohlala, Mowele. PY - 2018 SN - 148437648X 1484376455 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Accounting KW - Public Finance KW - Central Banks and Their Policies KW - Auditing KW - Public Administration KW - Public Sector Accounting and Audits KW - Management accounting & bookkeeping KW - Financial reporting, financial statements KW - External audit KW - Financial statements KW - Audit standards and procedures KW - Financial audit KW - Public financial management (PFM) KW - Finance, Public KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:85503943 AB - This paper takes stock of external audit arrangements at central banks. Its focus is on the annual audit of central bank financial statements, as well as legal and institutional measures that support audit quality and independence. The paper outlines good practices in these areas and provides a summary of actual practices observed based on a review of audited financial statements and central bank legislation. While the audit frameworks for central banks differ depending on their legal and institutional circumstances, central banks’ external audits increasingly follow international standards. Most of them are audited by auditors with international affiliations and embrace modern governance structures that provide for audit oversight. However, the paper also notes that a sizeable number of central banks do not publish the audit results in a timely manner, which leaves room for improvement in transparency practices. ER -