RegAlert1998-09-24 | Resolução CMN 2554Added
Resolution CMN No. 2554 — Provisions on the Implementation and Operation of an Internal Control System
Financial institutions and other entities authorized by the Central Bank of Brazil must implement and maintain an effective internal control system tailored to their nature, complexity, and risk profile. The governing board is responsible for establishing control structures, segregating duties, and ensuring ethical standards, while internal or external audit activities must report directly to the board. A complete implementation was required by December 31, 1999, following a defined schedule, with semi-annual monitoring reports submitted to the board and external auditors and retained for five years. The Central Bank retains the authority to mandate additional controls or impose operational limits on institutions failing to comply with these requirements.
BCB published 15 documents in the last 30 days — get each new one by email the day it lands.
RESOLUTION NO. 002554
Dispenses on the implementation and operation of an internal control system.
The CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes public that the MONETARY COUNCIL NATIONAL, in a session held on September 24, 1998, having regard to the provisions of Article 4, item VIII, of the aforementioned Law, Articles 9 and 10 of Law No. 4,728 of July 14, 1965, and Law No. 6,099 of September 12, 1974, with the amendments introduced by Law No. 7,132 of October 26, 1983,
Read the rest free, and get an email when BCB publishes again
Lineage: Superseded
Timeline
Amended 1 time · last 2021-11-25
Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
More like this from BCB
BCB published 15 documents in the last 30 days. We email you each new one the day it's published.