On the basis of internal control activities the Management Board of the bank, the Audit Committee and the Supervisory Board of the bank are provided with information on the key areas of operation of the bank in compliance with the requirements arising from applicable laws.
The process of preparing financial data for reporting is automated and based on the accounting data of the bank.
Preparation of data in source systems is subject to formalised operational and acceptance procedures. Creating a collection of accounting balances on the basis of the system of general ledgers of the bank takes place within a process covering respective internal controls. Manual adjustments are subject to special controls.
The bank continuously monitors changes in provisions and external regulations related to the preparation of financial statements and updates internal regulations on an ongoing basis as well as adjusting IT systems where necessary.
The process of monitoring the operational risk which occurs in the preparation of financial statements in the bank includes mechanisms which effectively ensure the security of IT systems. mBank has in place a business continuity plan which covers also the IT systems used in the process of preparing financial statements.