160. The risk management function and the compliance function, the second line of defence, together …

The risk management function and the compliance function, the second line of defence, together with the internal audit function, which is the third line of defence, form the internal control functions within the internal control framework. Competent authorities should verify that they will be established, taking into account the proportionality criteria set out in paragraphs 17–21, and that they will be endowed with appropriate and sufficient authority, stature and direct access to the management body to fulfil their mission.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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