218. The IAF should assess whether the institution ’s internal control framework as set out in …

The IAF should assess whether the institution ’s internal control framework as set out in Section 15 is both effective and efficient. In particular, the IAF should assess:

• a. the appropriateness of the institution ’ s governance framework;
• b. whether existing policies and procedures remain adequate and comply with legal and regulatory requirements and with the risk strategy and risk appetite of the institution;
• c. the compliance of the procedures with the applicable laws and regulations and with decisions of the management body;
• d. whether the procedures are correctly and effectively implemented (e.g. compliance of transactions, the level of risk effectively incurred, etc.); and
• e. the adequacy, quality and effectiveness of the controls performed and the reporting done by the defence business units and the risk management and compliance functions.

1. Forbhreathnú

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

3. Caighdeáin ghaolmhara

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