Audit Committees in Central Banks
AbstractThis paper reviews the tasks and design of audit committees, increasingly recommended as a way to strengthen financial accountability and good central bank governance. It outlines the motivations for the establishment of audit committees in commercial corporations and public sector entities, and explains how audit committees interact with other governance bodies within a central bank. The paper focuses on the functions of an audit committee, since the terminology of the governance structure is often country-specific. It summarizes operational issues to consider in designing an effective audit committee and discusses the implications for central bank legislation.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 07/73.
Date of creation: 01 Apr 2007
Date of revision:
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This paper has been announced in the following NEP Reports:
- NEP-ACC-2007-05-04 (Accounting & Auditing)
- NEP-ALL-2007-05-04 (All new papers)
- NEP-CBA-2007-05-04 (Central Banking)
- NEP-MON-2007-05-04 (Monetary Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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