Internal Control Structure

Structure of the Internal Audit

Internal Auditing of Arig Bank consists of two types of Auditing. The  Audit Office of  the Board of Directors reports directly to the Audit Committee, BoD.  Internal Audit Division reports directly to the Chief Support Officer of Arig Bank.

Audit Office:

The Audit Office is as an independent body and functions separately  from  the Bank's daily executive operations. The Audit Office reports internally to the Board of Directors.

Internal Audit Office oversees and evaluates the executive management activities referring to the implementation of decrees, tasks and duties given by the Bank of Mongolia, Board of Directors, compliance of standard operation procedure, guidelines adopted by the Bank, provides insight and reports to the Board of Directors. In the case of misconduct, the Office provides recommendations for the executive management.

Internal Audit Division:

Internal Audit Division is responsible to overseeing and evaluating daily internal audit functions of the Bank,  works under direct supervision of the Chief Support Officer thus assessing the implementation of the Arig Banks internal guidelines and regulations and compliance with related Laws and Decrees.

Internal Audit Divison evaluates respective functions and activities of other divisions and units of Arig Bank, provides guidelines and recommendations, organizes effective structures, improves internal audit system of the bank, implements monitoring to prevent potential risks.