On October 19, 2026, the Caribbean Development Bank (CDB) brought top audit professionals from across the public and private sectors to its St. Michael, Barbados headquarters for the inaugural Barbados Chief Audit Executives Forum, a landmark initiative designed to elevate internal auditing practices across the Caribbean region.
Organized by CDB’s Internal Audit Division, the gathering drew senior audit leaders from a wide cross-section of institutions, including major financial entities, national regulatory bodies, and private sector enterprises. The core mission of the forum was to facilitate collaborative dialogue around three pressing priorities for regional institutions: aligning local practices with newly updated Global Internal Audit Standards (GIAS), addressing rapidly evolving operational risks, and strengthening organizational accountability frameworks to support more effective, transparent governance.
For CDB, this forum is far more than a one-off professional gathering: it is a core component of the institution’s long-term development strategy laid out in its 2026–2035 Strategic Plan. Institutional capacity building stands as a central priority in this 10-year roadmap, which outlines targeted support for stronger governance, robust risk management, improved public sector performance, and enhanced organizational resilience across CDB’s borrowing member countries. The end goal of these investments, CDB leadership notes, is to build regional institutions capable of delivering sustained, inclusive economic and social development that lifts local communities.
Opening the forum, CDB Vice President for Corporate Services Gillian Charles-Gollop emphasized the foundational role of strong institutions in advancing regional progress. “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 told attendees. Charles-Gollop went on to highlight the underrecognized critical role internal auditors play in upholding public and stakeholder confidence: their work delivers the independent assurance and actionable insights organizations need to make informed strategic decisions and continuously improve performance, she explained.
A central focus of the day’s discussions was the practical work of implementing the new Global Internal Audit Standards, alongside the quality assurance frameworks required to meet evolving global professional expectations. Participants delved into two key mechanisms for driving audit quality: External Quality Assessments and Quality Assurance and Improvement Programmes, both of which are designed to boost the credibility, effectiveness, and value of internal audit functions while supporting ongoing professional improvement.
In a keynote address, Tamara Baugh-Brissett, Head of CDB’s Internal Audit Division, noted that cross-professional collaboration has grown increasingly critical as regional organizations navigate more complex, interconnected operating environments marked by emerging economic, regulatory, and technological risks. Beyond facilitating dialogue, Baugh-Brissett confirmed CDB is exploring tangible, ongoing support for regional audit departments to help them adopt the new standards and build long-term capacity.
“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,” she said.
One of the forum’s flagship sessions was a panel discussion co-led by the Global Institute of Internal Auditors (IIA) and the IIA Barbados Chapter, which centered on best practices for external quality assessments and internal quality improvement programs. Panellists shared actionable insights on how independent external reviews can boost audit effectiveness, strengthen professional credibility, and embed a culture of continuous improvement. They also offered guidance for aligning practices with the new GIAS and positioning internal audit functions as strategic partners rather than back-office oversight teams within regional organizations.
By the close of the event, attendees had not only shared practical professional experiences and built new cross-sector connections but also mapped out collective approaches to addressing common challenges facing audit teams across the Caribbean. The forum marked a key step forward in CDB’s broader mission to build the strong, accountable institutions that underpin long-term regional prosperity.