157. Competent authorities should review the application documents and be satisfied that the …

Competent authorities should review the application documents and be satisfied that the allocation of tasks and responsibilities will allow the management body to fully know the structure of their credit institution⁵⁷ and ‘ensure that the internal control functions are independent of the business lines they control, including that there is an adequate segregation of duties, and that they have the appropriate financial and human resources as well as powers to effectively perform their role. The reporting lines and the allocation of responsibilities, in particular among key function holders, within the credit institution should be clear, well-defined, coherent, enforceable and duly documented’⁵⁸ .

⁵⁷ Paragraph 71of the EBA Guidelines on internal governance .

⁵⁸ Paragraph 68 of the EBA Guidelines on internal governance .

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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