Monetary Authority of Singapore Risk Management Practices Guidelines – Internal Controls: Overview and Summary of Requirements

• By: Staff Editor
• Date: February 28, 2013
• Source: Monetary Authority of Singapore

The Monetary Authority of Singapore’s Risk Management Practices Guidelines dealing with internal controls makes it clear that a financial institution’s Board and senior management must establish processes, policies and procedures ensure its compliance with regulatory requirements. These policies and processes should also make sure that the institution’s operations are effective and compliant.