toezichtaudits

Toezichtaudits are audits conducted by supervisory authorities to assess whether an organization complies with applicable laws, regulations and supervisory standards. They form part of external oversight and are typically mandatory in sectors such as finance, healthcare, and utilities, with the aim of safeguarding stakeholders, market integrity and operational resilience.

The scope of toezichts audits varies by sector and regulator but generally covers governance, risk management, internal controls, financial reporting, data protection, information security, and business continuity. Audits may involve document reviews, interviews, system testing, and sampling of transactions or processes. The exact method and depth are determined in advance through a planning phase, and the regulator may conduct on-site visits or remote assessments.

Process and outcomes: after fieldwork, the regulator issues a formal report detailing findings, risk implications, and concrete recommendations. Remediation deadlines are set, and follow-up work may be required to verify improvements. Depending on the severity and persistence of deficiencies, supervisory actions can range from warnings and conditional requirements to fines, sanctions, or changes to licenses or operating conditions.

Relation to internal audits: toezicht audits differ from internal audits in that they are external, mandatory, and binding. Internal audits focus on improving the organization’s own governance and controls, while toezicht audits assess compliance with external requirements and can trigger enforcement actions if gaps are not addressed.

Overall, toezicht audits support accountability and risk management, contributing to trust in regulated sectors and reducing systemic risk.