Governance: MCB becomes the first IFACI-certified institution in Mauritius

MCB Group has obtained certification for its internal audit function from the French Institute of Internal Audit and Internal Control (IFACI), an association affiliated with the Institute of Internal Auditors (IIA). Its mission is to unite, promote, and represent the professions involved in risk management, auditing, and internal control within organizations.

This recognition, a first in Mauritius, assesses the maturity, effectiveness, and value added by the internal audit function, going beyond mere compliance with international standards. This international recognition is even more significant in a context where governance and internal controls play an increasingly important role in assessing financial institutions with international ambitions.

For investors, rating agencies, strategic partners, and regulators, governance, risk management, and internal control systems have become key evaluation criteria. An independent, rigorous, externally assessed Internal Audit function is one element that enables an institution to demonstrate, with tangible evidence, the strength and resilience of its operating model.

The IFACI certification is part of this approach. It provides external validation of the quality of MCB’s Internal Audit function and its alignment with the profession’s best practices, as well as with regulatory expectations, particularly those of the Bank of Mauritius.

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