Section 10, THE BANK OF SIERRA LEONE ACT 2019

(1) Subject to this Act, the Board shall have control andsupervision of the Bank and shall provide policy guidance and advice that will secure the efficient implementation of the objects of the Bank and enhance the overall performance of the Bank. (2) Without prejudice to the generality of subsection (1), the Board shall perform the following functions (a) determine the strategic organisation of the Bank, including the establishment and location of branches, representative offices and operations facilities; (b) determine the general policies and adopt internal rules applicable to the administration and operations of the Bank; (c) supervise the implementation of the policies and the exercise of the functions of the Bank; (d) approve the annual budget of the Bank; (e) approve the accounting policies and procedures of the Bank in line with International Financial Reporting Standards; (f) oversee the financial reporting, risk management, compliance, information technology, security and internal control systems of the Bank; (g) approve the audited accounts, annual reports and other formal reports and financial statements of the Bank; (h) determine denominations and design of banknotes, coins and their issuance and handling; (i) appoint committees consisting of members of the Board or members of the Bank's staff and assign their responsibilities; (j) approve the internal audit report prepared by the Audit and Risk Committees and monitor implementation of the internal auditor's recommendations; (k) assess risks and formulate contingency plans for the ongoing operations and security of the Bank; (l) adopt the rules of procedure for meetings of the Board; (m) exercise all powers that are not specifically reserved for the Governor; and (n) perform other functions prescribed by this Act. 6 7 Functions of Board.