On June 30, 2020, the State Bank of Vietnam issued Circular No. 06/2020/TT-NHNN on internal control and internal audit of the State Bank of Vietnam.
According to Article 18 of Circular No. 06/2020/TT-NHNN of the State Bank of Vietnam (SBV), the Governor shall provide instructions on and inspect internal audit activities of SBV, including:
1. promulgating or authorizing promulgation of documents, rules and processes regarding internal audit of SBV.
2. approving annual and unscheduled plans for internal audit of SBV.
3. deciding to appoint and dismiss controllers.
4. taking necessary measures to manage and supervise internal audit of SBV, including measures to take prompt measures against violations of law and regulations on internal audit; providing instructions on supervision and assessment of internal audit activities to make sure objectives are achieved and internal audit activities are carried out in an effective manner.
5. providing adequate and necessary resources for internal audit activities; deciding issues concerning interests of internal auditors.
6. providing instructions on handling or handling, within his/her power, complaints, denunciations and propositions from audited units and other organizations and individuals related to internal audit activities of SBV.
View detailed full text at Circular No. 06/2020/TT-NHNN of the State Bank of Vietnam, effective from August 15, 2020.
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