Regulatory Alerts2024-05-23 | CBE2.5CBE Regulation Book 2.5 - Requirements For Preparing An Annual Report To Evaluate The Efficiency Of Internal Control Systems
The document outlines the requirements for Egyptian banks to prepare an annual report evaluating the effectiveness of their internal control systems. It references relevant laws and guidelines, emphasizing the role of internal auditors in ensuring continuous improvement. Banks are required to submit a report to their audit committee and board of directors for approval, including corrective action plans.