Banking audit is a type of audit activity. Reporting prepared by banking groups is subject to be annually audited by audit organizations, which have a license to conduct audit of credit institutions in accordance with the legislation of Turkmenistan.

Banking audit has a special nature which is characterized by the fact that banking system plays the most important role for the economy of the country.

The deliverable of the auditing is conclusion on outcomes of the audit which contains information about reliability of financial statements of the credit organizations, as management of credit organizations, the condition of internal control and other aspects of credit organization’s activity.

Users of the audit conclusion are a wide group of persons who are interested in the reliability of the reporting of the entity audited, and one of such users is the Central Bank of Turkmenistan.

The audit conclusion is a required attachment to the annual statements of credit organization.