MAS: Annual report 2006 / 2007
	CONTENTS HOME   ENTERPRISE: Our Role BUILDING ON A ROBUST MACROECONOMIC ENVIRONMENT DEVELOPMENTS IN THE SINGAPORE SECURITIES MARKET FOSTERING A SOUND & REPUTABLE FINANCIAL CENTRE RISK MANAGEMENT & INFRASTRUCTURE GROWING SINGAPORE AS AN INTERNATIONALLY COMPETITIVE FINANCIAL CENTRE CURRENCY ORGANISATIONAL INITIATIVES		ORGANISATIONAL INITIATIVES 41 Risk-based Audit Approach 41 Front, Middle and Back Office System 41 Development of Key IT Systems to Support Organisational Initiatives 41 Streamlining of Logistics and Administrative Processes 41 Maintaining an Optimal Physical Working Environment for All 41 Ensuring the Efficient Use of Energy Resources 41 Box 10 - Second Phase of Amendments to MAS Act 41   Front, Middle and Back-Office System A new integrated front, middle and back-office system (FMBS) has been implemented in the fourth quarter of 2006 to replace the existing IT system and to better support MAS' role in the management and monitoring of foreign reserves as well as in monetary management.