Content of Internal Control Activities of State Bank of Vietnam from August 15, 2020

15:03, 10/07/2024

The State Bank of Vietnam has just issued Circular 06/2020/TT-NHNN regulating internal control and internal audit of the State Bank of Vietnam.

Internal control activities of the State Bank of Vietnam include the following:

- Regularly review documents to promptly issue, amend, and supplement regulations, operational procedures, and internal regulations to specify the content of work, tasks, authority, and responsibility of each unit, department, and individual in the operation and handling of work to ensure conformity, coherence, and scientific rigor;- Perform self-inspection, control, and supervision of the compliance with accounting, financial management, asset management, vault security, information technology policies, and the compliance and efficiency of operations of the units and individuals within the organization;- Classify, manage, and exploit the information and reporting systems of the unit in accordance with the regulations of the State Bank, ensuring smooth and continuous operations;- Establish an effective internal monitoring, reporting, and information exchange mechanism to prevent risks and support the management and operation of the unit efficiently and appropriately.

For details, see Circular 06/2020/TT-NHNN effective from August 15, 2020, replacing Circular 16/2011/TT-NHNN.

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