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MPFA

Internal Controls

Internal Audit and Management Review

The MPFA’s internal audit function is performed by the Risk Management Unit. Reporting to the Managing Director, the Unit provides an independent assessment of internal controls in line with the guidelines and standards on internal audit promulgated by the Hong Kong Institute of Certified Public Accountants. It reviews whether operational policies, procedures and controls are adequate and whether they are complied with, and identifies improvement opportunities.  Findings are reviewed by the executive management and reported to and considered by the Audit Committee, which reports to the Management Board directly to ensure objectivity and independence.

Risk Management

The MPFA has a risk assessment and management programme to identify, assess and manage risks in a timely and systematic manner. A corporate risk register and departmental risk registers are maintained to keep track of identified risks and risk management plans. These are reviewed and updated annually.

Last Revision Date: 27/09/2017