Transcription of FRAMEWORK FOR INTERNAL CONTROL SYSTEMS IN …
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FRAMEWORK . FOR. INTERNAL CONTROL SYSTEMS . IN BANKING ORGANISATIONS. Basle Committee on Banking Supervision Basle September 1998. Risk Management Sub-group of the Basle Committee on Banking Supervision Co-Chairs: Mr. Roger Cole Federal Reserve Board, Washington, Ms. Christine Cumming Federal Reserve Bank of New York Banque Nationale de Belgique, Brussels Mr. Philip Lef vre Commission Bancaire et Financi re, Brussels Mr. Jos Meuleman Office of the Superintendent of Financial Institutions, Ottawa Ms. Aina Liepins Commission Bancaire, Paris Ms. Brigitte Declercy Deutsche Bundesbank, Franfurt am Main Ms. Magdalene Heid Bundesaufsichtsamt f r das Kreditwesen, Berlin Mr. Uwe Neumann Banca d'Italia, Rome Mr.
The paper describes the essential elements of a sound internal control system, drawing upon experience in member countries and principles established in earlier publications by the Committee. The objective of the paper is to outline a number of principles for use by supervisory authorities when evaluating banks’ internal control systems. 2.
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