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Payments audit

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For the purpose of carrying out the tasks of MNB, The Central Bank Act has conferred an auditing authority upon it. Within the framework of the audit, the MNB is entitled to check all data, accounts and reports, balance-sheets, vouchers and any other documents. In the field of payments, objective of the audit is to efficiently support the tasks of the MNB in organizing and regulating the money circulation as well as its duties overseeing the payment and settlement systems. The Central Bank checks the adequacy of the payment data supplies required from the credit institutions and clearing houses under an annual field auditing plan, furthermore, on the basis of its responsibility for ensuring a smooth money circulation, it revises the professional activity of money processing enterprises and the cash re-cycling activity of credit institutions.
In order to reveal the risks and deficiencies, the MNB makes on-site and off-site inspections. At the same time, the experiences from the audits serve as feedbacks for carrying out the central bank’s payment transactions.