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9. Goals and objectives of internal control in credit institutions
The internal control system is created by the bank for the following purposes:
1) Ensuring that all employees of the bank, in the performance of their official duties, comply with the requirements of federal legislation and regulations, including resolutions of the Government of the Russian Federation, instructions of the Central Bank of the Russian Federation, other regulatory requirements, as well as performance standards and professional ethics, internal documents that determine the policy and regulate the activities of the bank .
2) Ensuring control over the timely identification, assessment and adoption of measures to minimize the risks of banking activities.
3) Resolution of conflicts of interest arising in the course of the bank's activities.
Based on the above goals, the main tasks of internal control are to ensure:
1) Fulfillment by the bank of the requirements of federal legislation and regulations of the Central Bank of the Russian Federation.
2) Definition in documents and compliance with established procedures and powers when making any decisions affecting the interests of the bank, its owners and customers. 3) Making timely and effective decisions aimed at eliminating the identified shortcomings and violations in the bank's activities.
4) Fulfillment of requirements for effective risk management of banking activities.
5) Preservation of bank assets (property).
6) Adequate reflection of bank operations in accounting.
7) The proper state of reporting, allowing to obtain adequate information about the activities of the bank and the risks associated with it.
8) Effective functioning of the internal audit of the bank.
9) Effective interaction with external auditors, state regulatory and supervisory authorities on issues of prudential activities, reliability of accounting and reporting, organization of internal control, prevention and elimination of violations by bank employees of legislation, regulations and standards of professional activity.
Author: Shevchuk D.A.
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