The main objective of IAD shall be direct assistance to the Bank's management bodies in ensuring its efficient operation by caring out internal audit of the Bank’s activities and by providing independent and fair recommendations intended to make its internal control, risk management and corporate governance systems more efficient.
IAD is independent in its activities. IAD's independence shall be established by the Bank's by-laws and ensured by the following principles in accordance to which the IAD:
- shall be subordinate to, shall be controlled by and shall report to the Supervisory Board of the Bank;
- shall not perform activities that are subject to its audits;
- on its own initiative shall report to the Supervisory Board of the Bank on issues that arise in the process of performing its functions, and on proposals on addressing these issues, as well submit this information to the Chairman of the Management Board and the Management Board of the Bank;
- is subject to independent audit by the Bank's auditor initiated by the Supervisory Board of the Bank.