JVI is gradually resuming classroom delivery. This course is scheduled to take place at JVI, but may have to be delivered virtually in case safe travel to and in-person training in Vienna will not be possible. The decision to offer virtual instead of onsite training, or a combination of the two (hybrid), will be made within 5 weeks of the course start date.
TARGET GROUP | Central bank officials serving on governance and oversight bodies, and/or senior central bank staff responsible for accounting, financial reporting, auditing, risk management, internal control, legal, or reserve management operations. Participants should have a university or postgraduate degree in accounting, business, economics, finance, or law, or have earned professional certifications in auditing (chartered or certified public accountants, internal auditors, information systems auditors) or finance (certified financial analysts).
DESCRIPTION | This course, presented by the Finance and Legal Departments, is designed to give central bank officials interactive exposure to the IMF safeguards assessment methodology. It has a special focus on central bank governance and highlights the importance of independent oversight, transparency and accountability for improving financial safeguards. It also provides a forum for central bank staff to exchange views on their experiences in reinforcing safeguards and governance frameworks and dealing with emerging issues. The course incorporates interactive lectures, discussions, and workshops addressing crucial assessment areas, especially external and internal audit mechanisms, financial reporting, the system of internal controls, management of international reserves, and reporting of monetary data to the IMF. The course also reviews the concepts underlying autonomy and good governance in central bank legislation.
OBEJCTIVES | Upon completion of this course, participants should be able to:
• Assess the strengths and vulnerabilities of their central banks’ safeguards and governance frameworks.
• Identify specific steps to improve financial safeguards.
• Use leading practices for central banks in the areas of good governance, central bank autonomy, accountability, and transparency.
• Describe and explain the requirements of the IMF safeguards policy and the importance of implementing safeguards recommendations.