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Enhanced Risk Management

Continuous Auditing

To provide assurance on the adequacy and effectiveness of our controls and procedures, MAS conducted an extensive programme of risk-focused audits across a wide spectrum of our operations during the year. Recognising the volatility of risk and the need for more real-time evaluation of the critical risks confronting MAS, Continuous Auditing (CA) has been adopted to enhance the efficiency and effectiveness of audit checks in critical areas. CA also allows greater audit penetration and ensures timely notification of gaps and weaknesses for immediate follow-up and remediation.

In line with industry standards, MAS will also be reviewing our internal audit charter against the new International Professional Practices Framework issued by the Institute of Internal Auditors.