The Basel Committee is consulting on enhanced guidance setting out supervisory expectations on how:

  • external auditors can discharge their responsibilities more effectively;
  • audit committees can contribute to the quality of external audit;
  • to maximise the relationship between external auditors and supervisors; and
  • bank audit quality can improve with regular and effective dialogue between the banking supervisory authorities and relevant audit oversight bodies.

It asks for comments by 21 June. (Source: Basel Consults on External Audit for Banks)