183. Credit institutions should develop and implement a robust internal quality assurance policy …

Credit institutions should develop and implement a robust internal quality assurance policy and procedures for valuations conducted internally and externally, considering the following:

• a) The quality assurance process should be carried out by a function that is independent from the function conducting the initial valuation, loan processing, loan monitoring and the underwriting process.
• b) The independence of the external appraiser selection process should be tested on a regular basis as part of the quality assurance process.
• c) An appropriate, similar sample of internal and external valuations should be compared with market observations on a regular basis.
• d) Back-testing of both internal and external valuations should be carried out on a regular basis.
• e) The quality assurance process should be based on an appropriate sample size.

1. Forbhreathnú

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

3. Caighdeáin ghaolmhara

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