1.   In order to assess an institution’s compliance with the requirements regarding the management of changes, and documentation of changes, to the range of application of a rating system or to the range of application of an internal models approach to equity exposures, and of changes to the rating systems or internal models approach to equity exposures in accordance with Article 143(3) and (4) and Article 175(2) of Regulation (EU) No 575/2013, competent authorities shall verify that the institution’s policy relating to such changes (‘change policy’) has been properly implemented and meets the requirements of Articles 2 to 5, Article 8 and Annex I to Delegated Regulation (EU) No 529/2014.

2.   For the purposes of the assessment under paragraph 1, competent authorities shall apply all of the following methods:

(a)	review the institution’s change policy;

(b)	review the relevant minutes of the institution’s internal bodies, including the management body, model committee, or other committees;

(c)	review the relevant reports on the management of changes to the rating systems and the recommendations by the credit risk control unit, validation function, internal audit function or any other control function of the institution;

(d)	review the relevant progress reports on the efforts made by the institution to correct shortcomings and mitigate risks detected during monitoring, validations and audits;

(e)	obtain written statements from or interview the relevant staff and the senior management of the institution.

3.   For the purposes of the assessment under paragraph 1, competent authorities may also review other relevant documents of the institution.