Overview
The Internal Audit Division is an independent and objective assurance and advisory function designed to enhance and protect organisational value by providing risk-based, independent and objective assurance, advice and insight.
It assists CDB in accomplishing its objectives by bringing a systematic and disciplined approach to the examination and assessment of the adequacy and effectiveness of the Bank’s processes for governance, risk management, and internal controls designed to achieve the Bank’s stated goals and objectives. The Division’s work is carried out in accordance with the Institute of Internal Auditors International Professional Practices Framework (Standards).
The Internal Audit Division reports administratively to the President and functionally to the Oversight and Assurance Committee of the Bank.
Internal Audit Division Value Proposition
ASSURANCE = Governance, Risk, Control
To provide assurance on the CDB’s governance, risk management, and control processes to help CDB achieve its strategic, operational, financial, and compliance objectives.
INSIGHT = Catalyst, Analyses, Assessments
To be a catalyst for improving CDB’s effectiveness and efficiency by providing insight and recommendations based on analyses and assessments of data and business process.
OBJECTIVITY = Integrity, Accountability, Independence
With commitment to integrity and accountability, the Internal Audit Division provides value to the Board, via the Oversight and Assurance Committee, and senior management as an objective source of independent advice.
Whistleblowing and Reporting
A Whistleblower System, which provides the primary mechanisms for the secure receipt and handling of all complaints, submissions, reports and disclosures from persons classified as whistleblowers and witnesses, as provided for in the Whistleblower Policy.