Paper Title
The Impact of Off-Site Internal Audit on Risk Control:As an Example of Taiwanese Bank

The global infectious disease caused by COVID-19 since the beginning of 2020, has caused domestic banks to use off-site audit to replace the on-site audit for oversea branches for 3 years. The FSC (Financial Supervisory Commission of Taiwan) also agrees off-site audit method for this kind of situation. This study uses in-depth interviews to understand whether the internal control function of the audit can be brought into full play by the off-site inspection method for senior executives and senior audit team leaders in domestic banks, or how to improve it so that off-site audits can be used. The on-site inspection can achieve its due function, to meet the internal audit standards of the competent authority. In addition to collecting references and conducting interviews with domestic bank senior executives and team leaders, this study consolidated and analyzed the eight major themes and the interview content of the eight interviewees, and the research conclusions are as follows: 1. Off-site inspections are less effective in risk control than on-site. 2. The risk control of off-site inspections can still meet the regulation of the competent authority under the COVID-19 epidemic. 3. Not in favor of off-site inspections in overseas branches. 4. Off-site inspections are difficult in terms of information security and internal control management. 5. The overall evaluation of the off-site inspection is not good enough. Keywords - Off-site Audit, On-Site Audit, Internal Control, Risk Control