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. |