Internal Audit Function

The Internal Audit Function operates as an independent function from the Bank’s business line, providing unbiased assurance to the Board of Directors and Senior Management, on the quality and effectiveness of the Bank’s internal controls, risk management, and governance systems and processes, in order to support the Board and Senior Management in the protection of the organisation.

The Internal Audit Function is mandated to assist the Board of Directors and Senior Management in accomplishing their objectives, by providing a systematic and disciplined approach to the evaluation of the Bank’s risk management controls and governance processes. 

The objectives of the Internal Audit Function are as follows:

1. Review the business activities carried out by the respective departments within the organisation and determine whether they are in accordance with the Bank’s objectives, policies and procedures, rules and regulations.
2. Review the reliability and integrity of financial and operating information and the means used to identify, measure, classify and report such information.
3. Review and appraise the efficiency with which resources are employed.
4. Review and evaluate internal governance and risk management processes.

The Internal Audit Function is accountable to the Board of Directors through the Board Audit Committee on all matters related to the performance of its mandate, as described in the Internal Audit Charter.