MFW4A-AACB Webinar Series on Banking Supervision - Webinar Presentation
Making Finance Work for Africa (MFW4A) and the Association of African Central Banks (AACB) hosted a Webinar on 'Internal Control and Audit' on 28 March 2019.
The webinar addressed the "Internal Control and Audit” (BCP 26) a module of the Basel Core Principles for Effective Banking Supervision (BCPs)". The supervisor determines that banks have adequate internal control frameworks to establish and maintain a properly controlled operating environment for the conduct of their business taking into account their risk profile.
These include clear arrangements for delegating authority and responsibility; separation of the functions that involve committing the bank, paying away its funds, and accounting for its assets and liabilities; reconciliation of these processes; safeguarding the bank’s assets; and appropriate independent internal audit and compliance functions to test adherence to these controls as well as applicable laws and regulations focusing on the internal control environment, the internal audit function, and the relationship of bank supervisors with external auditors.
The webinar presentation is available to download.