IDEAS home Printed from https://ideas.repec.org/p/imf/imfwpa/2018-125.html
   My bibliography  Save this paper

Effectiveness of Internal Audit and Oversight at Central Banks: Safeguards Findings - Trends and Observations

Author

Listed:
  • Elie Chamoun
  • Riaan van Greuning

Abstract

Experience under the safeguards policy has shown that central banks continued to strengthen their safeguards frameworks, but that vulnerabilities prevailed in the areas of internal audit and oversight by the audit committee (AC). This paper takes steps to help unravel why this was the case, based on analysis of safeguards findings in these areas during the period April 2010 to December 2017 (covering 111 assessments at 64 central banks). Based on this analysis, it presents the key attributes that determine the effectiveness of internal audit and the AC. It also argues that, an effective internal audit function, coupled with strong oversight by a high-performing AC are key enablers of good governance.

Suggested Citation

  • Elie Chamoun & Riaan van Greuning, 2018. "Effectiveness of Internal Audit and Oversight at Central Banks: Safeguards Findings - Trends and Observations," IMF Working Papers 2018/125, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2018/125
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=45905
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Peter J. Baldacchino & Louanna Fiteni & Francis Bugeja & Simon Grima, 2021. "The Evolution of Internal Auditing at a Central Bank: The Maltese Experience," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 628-654.
    2. Mr. Atilla Arda & Martin Gororo & Joanna Grochalska & Mowele Mohlala, 2018. "External Audit Arrangements at Central Banks," IMF Working Papers 2018/199, International Monetary Fund.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:2018/125. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.