The article discusses different types of audits but focuses on external and internal audits in the banking sector in the Republic of Macedonia. External auditors mostly report to parliament or government bodies, while internal auditors provide valuable information to bank management and supervisors about the internal control system's quality. The goal was to highlight how external auditors, internal auditors, and supervisory bodies interact within the banking sector. Overall, an effective internal audit system is crucial for providing vital information to manage the bank and maintain a strong internal control system.