The Albanian Securities Exchange (ALSE) participated in a seminar organized by the Institute of Internal Auditors of Albania on May 24, 2018. The seminar aimed to provide training to certified internal auditors authorized to practice their profession in the Republic of Albania.
During the event, the Executive Director of ALSE, Mr. Artan Gjergji, delivered a presentation focusing on recent developments in the capital market and the establishment of the Albanian Securities Exchange (ALSE), which received its license from the Albanian Financial Supervisory Authority (AFSA) in July 2017 and commenced trading activities in Government debt securities in February 2018.
The presentation further focused on the close relationship between the development of the capital market and the activities of the Stock Exchange and the principles of Corporate Governance, among which the role of the internal auditor is of particular importance. More specifically, Mr. Gjergji emphasized the need to incorporate internal audit processes within the two main groups of stakeholders with which the Stock Exchange has direct interaction: companies listed on the Stock Exchange and specialized financial intermediaries involved in Stock Exchange transactions, namely banks and brokerage firms.
Participants were also informed about the specific role that internal auditors can play within the organizational structure of a company listed on the Stock Exchange, as well as within the structure of financial intermediaries conducting activities on the Stock Exchange.
The internal auditors participating in the seminar expressed particular interest in the procedures for the issuance of securities and public and private offerings, the process for obtaining AFSA approval of the prospectus, and the possibility of listing such securities on the Stock Exchange.
