Monetary Authority of Singapore Annual Report 2010/2011
Our Work

Audit Assurance

During the year, an extensive programme of risk-based audits, covering core functions of MAS and the key IT systems supporting these functions, was conducted by the Internal Audit Department (IAD) of MAS. IAD also evaluated the reliability of financial records, recommended improvements in effectiveness and efficiencies of the operations, and worked with other departments to review the controls in new systems and business processes. IAD has begun a comprehensive eview of MAS' Fraud Risk Management. In addition, thematic reviews are scheduled to assess the corporate governance standards within the organisation. These include benchmarking against best governance practices, review of IT governance and Code of Conduct to preserve the integrity, dignity and reputation of MAS.