site.btaParliament Assigns National Audit Office to Examine Efficiency of Banking Supervision from 2012 to 2014

Parliament Assigns National Audit Office to Examine Efficiency of Banking Supervision from 2012 to 2014

Sofia, April 29 (BTA) - The National Assembly assigned the
Bulgarian National Audit Office (BNAO) to conduct an audit on
the banking supervision, carried out by the Bulgarian National
Bank between January 1, 2012 and December 31, 2014. The draft
decision was submitted by Reformist Bloc MP Martin Dimitrov and
a group of MPs. It was supported by 83 MPs with no votes against
and no abstentions.

The deadline for completing the check is three months from the
date it is assigned by Parliament. BNAO must submit to
Parliament the audit's final report on August 31.

Dimitrov argues that Corporate Commercial Bank's (Corpbank)
insolvency shows serious problems with the functioning of the
supervision of credit institutions. What is more important is to
get an answer whether prompt supervisory measures had been
taken in order to prevent and stop the unlawful practices at
Corpbank.

Dimitrov noted that there are topics around which Parliament
should be united and stand up for the national interest. An
internal audit has not been conducted on the banking supervision
one year after the Corpbank case, he said. "If we do not do it,
the risk for this tragedy to happen again remains," the
right-wing MP warned.