Payment Services Act (PSA) Internal Audit Services in Singapore
Our Focus
For Major Payment Institutions and Standard Payment Institutions in Singapore, we provide Payment Services Act internal audit reviews against applicable Monetary Authority of Singapore (MAS) Notices and Guidelines. Our reviews assess governance, risk management, and internal controls, including safeguarding and segregation of customer monies, transaction monitoring, AML/CFT, operational and technology risk, cybersecurity, third-party risk, and business continuity.
Key Responsibilities of a Payment Institution
01Customer Money & Payment Operations
Safeguarding customer money and maintaining appropriate controls over payment activities and operational processes.
02AML/CFT & Regulatory Compliance
Maintaining appropriate measures to manage financial crime risks and meet applicable regulatory requirements.
03Technology & Operational Resilience
Managing technology, cybersecurity and operational risks to support the secure and continuous delivery of payment services.
04Third-Party & Outsourcing Oversight
Maintaining appropriate oversight of outsourced functions and key third-party service providers.
An effective internal audit function provides an objective assessment of whether the governance, risk management and internal controls supporting these responsibilities remain effective.
Strengthen Your Internal Audit Function
Speak with us about your organisation's internal audit requirements.
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