Contents of internal control activities of the State Bank of Vietnam from August 15, 2020

According to Article 8 of Circular No. 06/2020/TT-NHNN of the State Bank of Vietnam (SBV), contents of internal control activities include:

- Regularly reviewing documents to promptly promulgate and amend internal rules, business processes and regulations so as to define work contents, tasks, powers and responsibilities of the unit and its department, division and individual upon management and handling of works in a lawful, close and scientifically sound manner.

- Self-inspecting, controlling and supervising the compliance with regulations on accounting, financial and asset management, safety during treasury-related activities, information technology, compliance and operational efficiency of divisions and individuals in the unit; reviewing and assessing the reasonableness, effectiveness and efficiency, determining current problems and suggest necessary changes to the internal control system to ensure safety of assets and improve the effectiveness in management by the unit and its operational efficiency.

- Classifying, managing and using information and reports of units in line with regulations of SBV to ensure smooth and continuous operation.

- Establish effective mechanisms for supervising, reporting and exchanging internal information with the purpose of preventing risks and serving the management in an appropriate and effective manner.

View more details at Circular No. 06/2020/TT-NHNN of the State Bank of Vietnam, effective from August 15, 2020.

Le Vy

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