Regulatory Alerts2016-09-07
Added · Updated
COBAC Regulation R-2016/04 on Internal Control in Credit Institutions and Financial Holdings
COBAC Regulation R-2016/04 establishes minimum internal control requirements for credit institutions and financial holdings in the Central African Economic and Monetary Community. It mandates a two-tier control structure comprising permanent control and periodic internal audit, defines specific roles for deliberative and executive bodies, and requires the implementation of risk identification, measurement, and monitoring systems tailored to the institution's size and activities. The regulation further outlines obligations for consolidated supervision, organizational independence, and the promotion of an internal control culture.
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