OpenLegislation

Article 17 Audit and internal validation governance

United Kingdom

Original text. Later amendments are not shown.

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

  1. (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;

  2. (b)

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