Banks?Internal Control System, the case of Albania
International Journal of Science and Research (IJSR)

International Journal of Science and Research (IJSR)
www.ijsr.net | Open Access | Fully Refereed | Peer Reviewed International Journal

ISSN: 2319-7064



Research Paper | Management | Albania | Volume 4 Issue 10, October 2015

Banks?Internal Control System, the case of Albania

Artur Ribaj

Albania, an EU candidate country, is approaching the EU Directives and Basel Principles via legislation and regulation framework. Related to banks internal control systems, structure and responsibilities, Albania has a new regulation On Internal Control System, dated on 02.09.2015. This regulation, has given requirements for setting up an effective internal control system and supporting arrangements by the three lines of defence model, a strong internal control system, including an independent and effective internal audit functions, as part of sound corporate governance, the banks management to take appropriate and timely corrective action in response to internal control weaknesses, the internal audit to provide vital assurance to banks board of directors and supervisory authorities with whom should be an enhanced two-way communication for discussing the risk areas identified, measures received, etc.

Keywords: internal control system, internal audit function, governance, lines of defence, risk management

Edition: Volume 4 Issue 10, October 2015

Pages: 1455 - 1459

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How to Cite this Article?

Artur Ribaj, "Banks?Internal Control System, the case of Albania", International Journal of Science and Research (IJSR), https://www.ijsr.net/search_index_results_paperid.php?id=14101501, Volume 4 Issue 10, October 2015, 1455 - 1459

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