AICB Specialist Practice Test & Exam Prep | Malaysia

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Under the Bank Negara Malaysia (BNM) Corporate Governance framework, what is the primary role of the Board Audit Committee (BAC) regarding internal controls?

To design and implement the bank's internal control systems. To review the effectiveness of the bank's internal control framework. To execute daily operational controls across branches. To approve the bank's risk appetite statement.

Correct Answer:

To review the effectiveness of the bank's internal control framework.

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