Governance of central banks

Governance of central banks

How can the board and audit committee achieve effective financial oversight?

Chairman, Global Financial Services

KPMG in the UK


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Governance of central banks topic image: Board meeting in progress

An effective audit committee enables the board to focus on its strategic objectives.

Governance has been placed in the spotlight in recent years, driving a clear trend towards improving oversight in many global institutions. 

For central banks, the focus on governance has been driven by their public-interest mandate, which demands both accountability and independence. 

Leading by example

A good governance structure instils confidence that a central bank can deliver effectively on its objectives and be seen as a credible and accountable organisation that contributes to a stable economic environment.

Given their significant public-interest mandate, it is important that central banks lead by example and are at the forefront in adapting to a changing environment. 

Effectiveness and transparency

Our publication Governance of central banks – Taking financial oversight to the next level focuses specifically on financial oversight, one of the key pillars of governance and the most subject to change. 

We identify the characteristics and underlying principles of effective financial oversight, show how some central banks are addressing the challenges and draw attention to emerging issues.

It is aimed at anyone involved in central bank governance, especially board and audit committee members. 

We hope that you find it helpful in taking the effectiveness and transparency of financial oversight in your organisation to the next level.

© 2016 KPMG IFRG Limited is a UK company, limited by guarantee. All rights reserved. KPMG IFRG Limited, registered in England No 5253019. Registered office: 15 Canada Square, London, E14 5GL, UK.

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