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Financial activities internal control certification

Introduced at the beginning of 2023, ‘financial activities internal control certification’ is a mandatory examination designed to ensure that the internal control officer and their staff have the appropriate level of knowledge for their duties.
The staff concerned sign up for a training session within six months of taking up their position. The individual concerned sits the examination after they have completed the training.

Financial activities internal control certification is governed by Sovereign Ordinance No. 1,284, amended, by Sovereign Ordinance No. 9.737 and by a regulation introduced by the AMAF in conjunction with the CCAF.

The AMAF is responsible for managing this certification scheme. It organises training sessions and examinations. It also determines the content of teaching given during training sessions, and the minimum level of knowledge and skills required in order to qualify for certification, under the supervision of the CCAF.

A grandfather clause applies for staff who have been in post in Monaco continuously for over five years on the date of entry into force of Sovereign Ordinance No. 9.737 (11 February 2023).

The General Secretary of the CCAF sits on the Professional Certifications Committee, which may issue an opinion on any subject that falls within its remit.

Sovereign Ordinance No. 1,284 (french version)
Sovereign Ordinance No. 9,737 (french version)