Safeguards Assessments Completed to Date
Last updated: July 3, 2008|
Safeguards Assessments, which apply to all member countries with arrangements for use of IMF resources approved after June 30, 2000, aim to provide reasonable assurance to the IMF that a central bank's framework of reporting and controls is adequate to manage resources, including IMF disbursements. Safeguards Assessments cover five key areas of control and governance within central banks, summarized by the acronym ELRIC, that is (i) the External audit mechanism; (ii) the Legal structure and independence; (iii) the financial Reporting framework; (iv) the Internal audit mechanism; and (v) the internal Controls system. Member countries with arrangements in effect prior to June 30, 2000 were subject to an abbreviated assessment, which evaluated only the adequacy of the external audit mechanism. Safeguards Assessments completed to date are set out below: |