For regulated financial institutions in Singapore, a robust internal audit function is central to MAS’s expectations for sound governance and risk management. Our regulatory compliance consultants support CMS licensees, fund management companies, DPT service providers, and banks with outsourced and co-sourced internal audit programmes, risk-based audit planning, MAS compliance audits, and AML/CFT testing — all grounded in IIA standards and aligned with MAS supervisory expectations. We also assist firms in remediating findings arising from internal audits, MAS inspections, and independent reviews.
On the 11th of December 2023, the Monetary Authority of Singapore (“MAS”) published a revised version of the outsourcing guidelines applicable to non-Bank Financial Institutions such as Fund Management Companies…