Updated 21/12/2024
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Article 17 - Audit and internal validation governance

Article 17

Audit and internal validation governance

Competent authorities shall assess that an institution's audit and internal validation governance is of a high quality by confirming at least the following:

(a)

that audit programs for reviewing the AMA framework cover all significant activities that could expose the institution to material operational risk, including outsourced activities;

(b)

that the internal validation techniques are proportionate to changing market and operating conditions, and that their outcomes are subject to audit review.