The Internal Audit Office, under the leadership of Chief Internal Auditor Hussein Shuaib Osman, is CBS’s internal oversight body, ensuring transparency, accountability, and operational efficiency. Reporting independently, it evaluates processes, systems, and controls, identifying areas for improvement and safeguarding CBS’s assets and reputation. This office is comprised of two divisions—IT Audit and Operations, Finance, and Compliance Audit—each addressing key areas of operational risk to provide actionable insights for leadership.
The IT Audit Division secures CBS’s digital infrastructure by conducting security audits, assessing the efficiency of technological systems, and investigating cybersecurity incidents. This division plays a critical role in protecting CBS’s technological assets and ensuring compliance with global IT standards. The Operations, Finance, and Compliance Audit Division reviews CBS’s financial transactions and operational workflows to ensure efficiency and regulatory adherence. It conducts audits, evaluates workflows, and provides recommendations to strengthen resource utilization and internal controls. Together, these divisions underpin CBS’s operational integrity and support its broader financial and regulatory objectives.
The Central Bank of Somalia was established in 1968 as the country’s financial regulatory institution. After years of insecurity, fragility, and economic decline due to the collapse of the state in 1991, The Central Bank was revived and strengthened with the CBS Act of 2011.
CBS © All Rights Reserved.