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APRA CPS 230 para 61 (internal audit review of proposed arrangements)
Internal audit must review any proposed material arrangement that would outsource a critical operation, and must give regular reports to the Board (or its audit committee) on whether such arrangements comply with the service provider management policy.
Steps that cite it
- KC-07 S6 Internal audit
Evidence commonly asked for
- Internal audit review reports on proposed critical-operation outsourcing, dated before approval
- Regular internal audit reports to the Board or audit committee on policy compliance of outsourcing arrangements
- Internal audit plan entries covering service provider compliance
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