Section 54: Internal control systems

54. Internal control systems Every financial institution shall maintain adequate internal control systems, commensurate with the nature and volume of its activities and various types of risks to which it is exposed, regarding— (a) operations and internal procedures; (b) the organisation of accounting and information processing systems; (c) risk and result measurement systems; (d) documentation and information systems; and (e) cash flow transactions monitoring systems. [S. 54 amended by s. 3 (e) of Act 14 of 2009 w.e.f. 30 July 2009.]