Shortfall In Documentation And Others Lapses Shortfall In Documentation And Others Lapses. Lapses : Lapses arise out of any kind of irregularities, misstatements, non-compliances of existing policy & procedures of the Bank, law of the land by which the Bank may incur financial losses. Moreover, sometimes non-compliance of existing policies […]
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Internal Control and Compliance (ICC) Internal Control and Compliance (ICC) 01. Definition: As per Guidelines on Internal Control & Compliance issued by Bangladesh Bank in 2016: Internal control is a process, effected by a bank’s board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement […]
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