About This Event
“Pass the safeguards test because your controls work, not because you prepared.”
A one-week, in-person programme on central bank governance frameworks, financial reporting, internal and external audit, and internal controls. You will see how these elements fit together to protect the institution and how external reviewers such as an IMF safeguards assessment test them.
What You'll Explore
A safeguards readiness action plan for your central bank
A controls self-assessment for reserves, payments and currency
A governance benchmark of your board and audit committee setup
An IFRS disclosure checklist for central bank financial statements
A coordination protocol between internal and external audit
Who Should Attend
Open to all qualifying staff, particularly: Board and Audit Committee Members, Internal Audit Heads, Chief Financial Officers, Financial Reporting Staff, Legal Counsel, Risk Managers.
Why This Course Matters
Sound Governance
Clear legal mandates, board oversight and autonomy protect a central bank from interference. Getting the framework right is what lets the institution make hard decisions and have them respected.
Transparent Reporting
Financial statements prepared to recognised standards show exactly how the central bank manages public resources. Credible reporting is the basis of trust with government, markets and lenders.
Controls That Work
Strong internal controls and independent audit catch errors and misconduct before they escalate. They are also what external reviewers test first when judging your institution's safeguards.
Programme
Day 1
Central bank governance: mandate, autonomy & oversight
You will review the legal and governance architecture of a central bank, from mandate and autonomy to board and audit committee oversight, and benchmark your own arrangements against good practice.
Day 2
Financial reporting: IFRS and central bank practice
You will work through central bank financial reporting under IFRS, including valuation of reserves, gold and revaluation accounts, and the disclosures that make the statements transparent and credible.
Day 3
Internal controls & enterprise risk frameworks
You will apply the COSO internal control framework to core central bank processes, such as reserve operations and payments, identifying key controls, testing their design and closing gaps.
Day 4
Internal and external audit: roles & coordination
You will examine how internal and external audit work together, covering the IIA Global Internal Audit Standards, external audit arrangements, and how audit committees use both effectively.
Day 5
Safeguards assessment readiness & action planning
You will walk through how an IMF safeguards assessment reviews your institution, then draft a readiness action plan addressing the gaps you identified across governance, reporting, audit and controls.
Standards & Faculty Benchmark
IMF Safeguards Assessment Policy
The IMF framework for reviewing central bank governance, audit, reporting and internal controls.
IFRS Accounting Standards
The international financial-reporting framework widely adopted by central banks for their accounts.
IIA Global Internal Audit Standards
The global standards for professional internal audit practice, governance and quality.
COSO Internal Control Framework
The integrated framework for designing, assessing and reporting on internal control.
When the IMF, external auditors or rating agencies review your central bank, these are the frameworks they apply. Aligning governance, reporting and controls to them now means reviews confirm what you already do, instead of producing findings you have to fix under pressure.
Is This Right for You?
- ☑You sit on a board or audit committee, or lead finance or audit
- ☑Your institution is preparing for a safeguards or external review
- ☑You need to see governance, reporting and audit as one system
Good to Know
Pitched at board members, finance, audit and risk professionals; a basic grounding in accounting or audit is helpful but not required. You leave with a safeguards readiness action plan and a controls self-assessment you can apply straight away.
The Bottom Line
Walk back in with a safeguards action plan that turns your next external review into confirmation, not a list of findings.
Recommended For
Open to all qualifying staff, particularly: Board and Audit Committee Members, Internal Audit Heads, Chief Financial Officers, Financial Reporting Staff, Legal Counsel, Risk Managers.