Audit committees have become an established element of good governance structures at central banks. The International Monetary Fund (IMF) safeguards assessments found that out of the 80 central banks evaluated by the IMF, more than 50 had, or were required to have, an audit committee or a similar oversight body in place.¹ While their structure and composition differ depending on the country's legal system, the roles assigned to audit committees typically include oversight of the central bank's