Central Bank of Colombia assesses its internal control system at 100% effectiveness for second half of 2025

The Central Bank of Colombia published its independent evaluation of the state of its internal control system for the second half of 2025, concluding that the system is integrated and effective and that all five components of the standard internal control model are present and functioning. The assessment reports 100% compliance and did not identify control failures that could impact the Bank’s internal control system. The report describes governance and assurance arrangements built around a three lines model, with oversight by the Board and senior governance committees, complemented by the Bank’s Internal Control Department and an external Auditor General function, as well as external financial audit and other oversight bodies. It highlights ongoing enhancements across control environment, risk management, control activities, information and communications, and monitoring, including updates to the enterprise risk management framework and risk appetite monitoring, creation of a reputational risk subsystem, strengthened cyber and information security controls (including role-based access management in SAP), and implementation of operational and security controls supporting Bre-B’s centralized modules for immediate payments interoperability. Monitoring activity referenced includes follow-up of supervisory work by the Superintendencia Financiera de Colombia and a compliance audit by the Office of the Comptroller General on fiscal management of the FAE for 2022–2024, reported as satisfactory with no observations.