ADVOKS GLOBAL · KENYA
The Capital Markets (Corporate Governance) (Market Intermediaries) Regulations
22. Internal audit.
Edition: 2022-12-31 · In force
22. Internal audit.
(1)The market intermediary shall establish an effective internal audit function.(2)The board shall formulate an internal audit charter to bring a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes and define the purpose, authority and responsibility of the internal audit function.(3)The internal audit charter shall provide—(a)assurance that the management processes are adequate to identify and monitor significant risks;(b)confirmation of the effective operation of the established internal control system;(c)credible processes for feedback on risk management and assurance; and(d)objective confirmation that the board receives the right quality of assurance and information from management and that this information is reliable.