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In June 2019, the Financial Services Agency (FSA) published the document organized and summarized as 
“Current Situation and Issues for Improving Internal Audits of Financial Institutions” (hereinafter referred to as the "Current Situation and Issues") based on monitoring results regarding internal audits of financial institutions. Even after the publication of the “Current Situation and Issues”, the FSA has continued to monitor financial institutions to improve their internal audits. We organized status of initiative and recognition of issues of internal audits in large banking groups, and summarized them as a progress report (interim report).
The FSA expects that this document will help not only large banking groups but also other financial institutions to improve their internal audits.
The FSA will promote the improvement of internal audits by proceeding with in-depth monitoring of financial institutions, and will also consider the necessity of updating the “Current Situation and Issues” based on monitoring of financial institutions and international trends and international trends regarding internal audit.
