Main functions of Internal Audit Directorate
The Internal Audit Directorate performs its duties from the Central Bank's strategy for the years 2016-2020, in particular "Strengthening of comprehensive risk-based control systems", "Enhancing disclosure and transparency practices" and "Developing supervision and supervision sector", As set out in the Charter of the Internal Audit Committee.
The directorate is administratively link to the governor, and technically to the audit committee, which in turn is associated with the board of directors of the central bank.
The directorate affirms the compliance of all the Central Bank's directorates with the laws, regulations, instructions and orders that define its framework and in accordance with its specialties.
Audit the performance of the Banking monitoring Directorate in terms of licensing banks and exchangers, and follow up the safety of their work, through the audit of the office and field inspection, with periodic and exceptional indicators internationally and / or by the Central Bank.
Auditing the performance of the Statistics and Research Directorate in terms of preparing the monetary, banking and financial statistics of banks, exchangers and other financial institutions, in addition to preparing foreign trade statistics, balance of payments, preparing macroeconomic research and forecasts and relations with Arab, regional and international organizations, publish of researches and the issuance of periodic reports.
Audit the performance of the Issuing and Treasury Directorate, in terms of forecasting the needs of the currency issued by categories, issuing the currency, dealing with the damaged currency, how to compensate for it, correcting the counting process and matching the issuing accounts. Manage national and foreign currency stocks, Develop the annual guessing plan and manage the safes, daily cash movement, and periodic and sudden inventories.
Audit of the operations of the Investment Directorate, including the activities of the "front office", the "middle office" and the "back office"; investment in various bonds in terms of amounts, prices, periodic benefits, reinvestment, With emphasis on risk minimization, portfolio diversification, asset / liability management practices, swap contracts, foreign currency sales of the local banking system, oil export operations and external transfer of funds.
Audit the Financial Operations and Debt Management Directorate by monitoring the open market operations, the internal lending transactions to the three banks sectors and checking the calculation of the mandatory reserve "cash, treasury bills", the dinar, the dollar, And checking transactions in the window of the sale and purchase of currency, and transactions of external debt, Both within and outside the Paris Club, with cooperation with the Ministry of Finance and the Ministry of Foreign Affairs and ministries and other relevant parties, to determine Iraq's debt to others, and indebtedness of others to Iraq, and provide the services required.
Audit of systems and information, their applications, supporting processes, procedures, operating efficiency, internal audit procedures, risk analysis and protection of their systems, audit of Payments Directorate transactions in terms of RTGS transactions, C-ACH system, Retail, and any future developments. Audit of the information and communication infrastructure in terms of strategic planning, systems management and general application control procedures, software service preparation, network and communication management, user documentation, hardware maintenance, network and software, project management, information security, disaster recovery, And any future developments
Audit the transactions of the "Accounting Directorate", including audit of the budget and final accounts, the cash balance, current accounts with the Ministry of Finance, government departments, banks and financial companies, and follow up and audit the accounts of correspondents, in addition to auditing administrative accounts, including salaries, expenses, Fixed, various accounting systems, and branches of the central bank.
Audit the work of the Administrative Directorate in terms of administrative procedures for human resources, including appointment and promotion, discipline, continuity, vacations, incentives, allowances, identities, formation of committees, warehouse inventory, fixed assets, adequacy and effectiveness of administrative services, , And the effectiveness of providing technical services.
Auditing the Legal Department in terms of safety of establishment and follow-up of foreign cases and internal claims, and provide various consultations and attention to human rights.
Auditing the work of the Center for Banking Studies, in terms of training human resources in internal and external courses, and the completion of dues from the Central Bank and banks, and audit revenues and expenses.
Managing the work of the internal audit teams and determining their duties, including all departments and branches of the bank, and following up on the performance of their duties, in compliance with international standards.
