Internal controls in an international financial institution
Ian Hume
Public Money & Management, 2012, vol. 32, issue 2, 137-144
Abstract:
In 2005 the World Bank decided to undertake a review of the internal controls under the COSO framework which governed the operational compliance of its concessionary funding agency, the International Development Association (IDA). This was the first such review within the Bank and the first by any international financial institution. This article describes the purpose, scope, methodology and execution of that review, touching also on the main findings. The review involved both entity and transactions level design and controls testing, it used creative empirical tools to establish ‘pass rates’ and it provided the basis to uncover a material weakness and several significant deficiencies.
Date: 2012
References: Add references at CitEc
Citations:
Downloads: (external link)
http://hdl.handle.net/10.1080/09540962.2012.656020 (text/html)
Access to full text is restricted to subscribers.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:taf:pubmmg:v:32:y:2012:i:2:p:137-144
Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RPMM20
DOI: 10.1080/09540962.2012.656020
Access Statistics for this article
Public Money & Management is currently edited by Michaela Lavender
More articles in Public Money & Management from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().