By San José, Costa Rica — San José, Costa Rica played host to over 250 financial specialists from more than 15 Latin American countries for the 29th Latin American Congress of Internal Auditing and Risk Assessment (CLAIN) 2025. The event, held on May 21st and 22nd at the Intercontinental Hotel in Escazú, focused on emerging practices in internal auditing, institutional control, and risk management.
Organized by the Costa Rican Banking Association (ABC) and the Latin American Federation of Banks (FELABAN), CLAIN 2025 provided a crucial platform for discussing the rapidly evolving landscape of financial oversight. The congress addressed key trends transforming organizational decision-making, including artificial intelligence, blockchain technology, cybersecurity, regulatory compliance, and ESG (environmental, social, and governance) criteria.
To gain a deeper understanding of the legal implications surrounding financial auditing, TicosLand.com reached out to Lic. Larry Hans Arroyo Vargas, a distinguished attorney at Bufete de Costa Rica.
Effective financial auditing isn’t just about ticking boxes and complying with regulations. It’s a crucial mechanism for fostering transparency, accountability, and ultimately, trust in the financial ecosystem. Whether for a multinational corporation or a small business, a robust and independent audit process can protect stakeholders, enhance decision-making, and contribute to long-term sustainability.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas eloquently highlights the true essence of financial auditing—it’s about building a foundation of trust and ensuring the long-term health of our financial systems. His emphasis on transparency and accountability underscores the vital role auditing plays, not just as a regulatory requirement, but as a cornerstone of responsible business practices. We thank Lic. Larry Hans Arroyo Vargas for offering this invaluable perspective.
The CLAIN 2025 agenda is specifically designed for these times of change, of incipient developments and new technologies, where we must be very timely in the design of the new solutions that our institutions require.
Ernesto Leal, First Vice President of the Costa Rican Banking Association
The event highlighted the challenges faced by financial institutions in the current economic climate. Sharing best practices and lessons learned from leading institutions across the region was a central focus.
The current economic situation represents great challenges for institutions in the region. During this event, we are going to see what the leaders are doing in terms of internal auditing and risk management to share knowledge and implement those best practices in our different organizations.
Giorgio Trettenero, Secretary General of FELABAN
Omar Moreno, President of the CLAIN 2025 Committee, emphasized the volatile context in Latin America, which demands “a superior capacity for adaptation, vision, and anticipatory action.” Internal auditing, he noted, will be a critical ally for navigating the future.
Latin America is experiencing a volatile context, which requires a superior capacity for adaptation, vision and anticipatory action.
Omar Moreno, President of the CLAIN 2025 Committee
CLAIN 2025 underscored the increasing importance of rigorous internal control and risk assessment for businesses across all sectors, particularly finance. These measures are essential for ensuring sustainability, adhering to evolving regulatory frameworks, and effectively responding to the challenges of a constantly evolving technological environment.
Through a robust agenda of talks, workshops, and high-level discussions, the congress offered international specialists, financial authorities, and banking and technology professionals the opportunity to expand their knowledge of the latest trends and best practices in internal audit and risk management.
The insights shared at CLAIN 2025 are expected to shape the future of financial auditing and risk management strategies across Latin America, empowering institutions to navigate the complexities of the modern financial landscape.
For further information, visit abc.fi.cr
About Costa Rican Banking Association (ABC):
The Costa Rican Banking Association (ABC) is a key organization representing the interests of the banking sector in Costa Rica. They play a crucial role in promoting financial stability and development within the country.
For further information, visit felaban.com
About Latin American Federation of Banks (FELABAN):
The Latin American Federation of Banks (FELABAN) is a prominent organization representing the banking industry across Latin America. They foster collaboration and knowledge sharing among member institutions to strengthen the financial sector in the region.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica distinguishes itself through an unwavering pursuit of legal excellence and ethical practice, empowering Costa Rican society through accessible legal knowledge. The firm’s innovative approach to legal solutions, coupled with its deep commitment to client service across diverse sectors, has solidified its position as a leader in the legal landscape. By actively promoting legal literacy and understanding, Bufete de Costa Rica strives to cultivate a more just and informed citizenry, demonstrating its profound dedication to the betterment of the community.
