178. Competent authorities, taking into account the proportionality criteria set out in paragraphs …

Competent authorities, taking into account the proportionality criteria set out in paragraphs 17–21, should assess the independent and effective internal audit function (‘IAF’) set up by the applicant credit institution. Competent authorities should gain a clear view that the IAF, following a risk-based approach, will be able to independently review and provide objective assurance of the compliance of all activities and units of the credit institution, including outsourced activities, with the institution’s policies and procedures and with other external (non-prudential) requirements.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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  EN: Guidelines and other publications of the European Banking Authority (EBA), https://www.eba.europa.eu/. © European Banking Authority. Reproduction is authorised provided the source is acknowledged (EBA legal notice). Divided into sections and converted into the GRCA format, the wording unchanged. Only the versions published by the EBA are authoritative.

  DE: Leitlinien und weitere Veröffentlichungen der Europäischen Bankenaufsichtsbehörde (EBA), https://www.eba.europa.eu/. © European Banking Authority. Wiedergabe mit Quellenangabe gestattet (Rechtlicher Hinweis der EBA). In Abschnitte aufgeteilt und in das GRCA-Format umgewandelt, der Wortlaut unverändert. Maßgeblich sind allein die von der EBA veröffentlichten Fassungen.