BRIDGETOWN, Barbados, Oct 22, CMC – The Caribbean Development Bank (CDB) is seeking to strengthen internal audit capacity and promote better governance across the region, as audit leaders examine emerging risks and the implementation of global professional standards.
The bank’s Internal Audit Division hosted the Barbados Chief Audit Executives Forum on October 19, bringing together heads of internal audit and senior audit professionals from public, private, regulatory and financial institutions.
The forum focused on the implementation of the Global Internal Audit Standards (GIAS), quality assurance practices and the evolving role of internal audit in supporting governance and organisational performance.
The initiative forms part of the CDB’s broader institutional strengthening agenda, a core pillar of its Strategic Plan for 2026–2035. The bank said its work in governance, risk management, public sector effectiveness and organisational resilience supports borrowing member countries in pursuing sustainable economic and social development.
Addressing participants, CDB Vice President of Corporate Services Gillian Charles-Gollop said strong institutions were critical to achieving development results.
“The strength of our region is ultimately reflected in the strength of its institutions. Development is measured not only by what we finance, but by the lasting results institutions deliver for the people they serve,” she said.
Charles-Gollop said effective internal audit functions help strengthen transparency, accountability and confidence by providing the assurance and insight needed for sound decision-making and improved organisational performance.
The forum also allowed participants to exchange experiences, build professional networks and discuss practical approaches to implementing the global standards.
Discussions covered External Quality Assessments and Quality Assurance and Improvement Programmes, which help assess the effectiveness of internal audit functions, strengthen credibility and support continuous improvement.
CDB Head of Internal Audit Tamara Baugh-Brissett said collaboration among audit leaders was important as organisations navigated increasingly complex operating environments.
She said the bank was exploring ways to help internal audit departments across the region build capacity, improve quality assurance practices and work towards conformance with the Global Internal Audit Standards.
“Our ambition extends beyond discussion. We are examining ways to support internal audit departments across the region in strengthening their capabilities, enhancing quality assurance practices and progressing toward conformance with the Global Internal Audit Standards. This represents an important opportunity to strengthen governance and institutional effectiveness across the Caribbean,” Baugh-Brissett said.
A panel discussion led by the Institute of Internal Auditors (IIA) Global and the IIA Barbados Chapter examined how independent assessments could improve audit effectiveness, enhance credibility and support continuous improvement.
Panellists also shared practical insights into implementing the standards and positioning internal audit as a strategic partner within organisations.
CMC/ed/2026