Representatives of Bank Gospodarstwa Krajowego shared their internal audits organisation experience with internal auditors of Lithuanian NPIs
On 26-27 September, representatives of Bank Gospodarstwa Krajowego (BGK) visited VIPA. The visit was a complementary initiative to the cooperation developed under the Three Seas Initiative (3SI) Investment Fund. BGK’s Internal Audit Representatives shared with the Lithuanian National Promotion Institutions (NPIs) their experience in the area of internal control functioning and internal audit organisation.
For almost two years, VIPA has represented Lithuania in the 3SI Investment Fund, which is also a platform for cooperation between the 3SI member countries. Internal auditors of financial institutions from the 3SI member countries cooperate and share their experience during regular meetings. This time, on the initiative of VIPA, BGK’s internal auditors shared their experience with internal auditors of the Lithuanian NPIs (INVEGA, VIVA, ACGF).
At the meeting in Vilnius, the issues of developing an effective internal control system and the steps of risk management were discussed. BGK’s representatives shared their experience of organising internal audit in BGK Group companies.
Internal auditors of the Lithuanian NPIs (INVEGA, VIVA, ACGF) and BGK’s representatives noted that the meeting could be the start of their fruitful cooperation.
The aim of the 3SI Investment Fund launched in 2019 is to invest in transport, energy and digital infrastructure in the countries of the Three Seas Region to help tackle disparities in the development of different regions of the EU. It plays an important role in complementing and reinforcing the use of local capital of different countries and EU financial instruments. In 2021, the Government of the Republic of Lithuania delegated VIPA to represent the Republic of Lithuania and to invest EUR 20 million in the Fund.