Central Payments Office of East Timor - Instruction B-2001-5 - Bank's Internal Control Systems


For the purposes of preventing losses, maintaining reliable financial and managerial reporting, enhancing the prudent operation of banks, and promoting stability in the financial system of Timor, the Central Payments Office (CPO) of Timor's Instruction B-2001-5 requires that banks establish a sound internal control process. The instruction covers the following principles for a bank's internal control systems:

1. Management Oversight and the Culture of Control
2. Risk Recognition and Assessment
3. Control Activities and Segregation of Duties
4. Information and Communication
5. Monitoring Activities and Correcting Deficiencies

Document Details

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Wednesday, April 11, 2001
Document Authors: 
Central Payments Office of East Timor (CPO)
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