Monetary Authority of Singapore Annual Report 2011/2012
Our Work

Enhancing Audit Capabilities

During the year, Internal Audit Department (IAD) of MAS conducted an extensive programme of risk-based audits across the core functions of MAS and the key IT systems supporting these functions. IAD also evaluated the reliability of financial records, recommended measures to improve the effectiveness and efficiency of the operations, and worked with other departments to review the controls in new systems and business processes. IAD continues to enhance its data analytic capabilities and has put in place a surprise audit framework as a tool to deter and detect fraud.