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Accountability and Audit Requirements in PDF

This document discusses accountability and audit requirements related to the Single Supervisory Mechanism (SSM). It begins by framing accountability as vital to democracy and defines it as the obligation of public officials to report on their use of power. It then discusses how accountability is reflected through interactions between accountable and oversight bodies. Specifically, accountable bodies report to parliamentary representatives and undergo evaluation by independent auditors with relevant expertise. The document notes how the 2008 financial crisis drew attention to the need for accountability of authorities responsible for banking supervision. It provides context on how this role was previously a national competence before the creation of the SSM.
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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0% found this document useful (0 votes)
47 views

Accountability and Audit Requirements in PDF

This document discusses accountability and audit requirements related to the Single Supervisory Mechanism (SSM). It begins by framing accountability as vital to democracy and defines it as the obligation of public officials to report on their use of power. It then discusses how accountability is reflected through interactions between accountable and oversight bodies. Specifically, accountable bodies report to parliamentary representatives and undergo evaluation by independent auditors with relevant expertise. The document notes how the 2008 financial crisis drew attention to the need for accountability of authorities responsible for banking supervision. It provides context on how this role was previously a national competence before the creation of the SSM.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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