85. In assessing the institution’s internal control functions, competent authorities should assess …

In assessing the institution’s internal control functions, competent authorities should assess institution’s compliance with the EBA Guidelines on Internal Governance and the relevant provisions of the Regulation (EU) 2022/2554 (DORA)³⁰ . In this context, competent authorities should consider inter alia whether:

• a. the institution has an appropriate internal control framework covering all areas, consistent with the ‘three lines of defence’ model, including well -functioning, effective and independent risk management, compliance and internal audit functions;
• b. the heads of internal control functions (i) are established at an adequate hierarchical level that provides them with the appropriate authority and stature needed to fulfil their responsibilities, (ii) have direct access and can report directly to the management body in its supervisory function, and (iii) have all the resources necessary to perform their tasks;
• c. the institution has adequate written internal control policies effectively implemented and a clear allocation of responsibilities for the implementation of the framework, segregation of duties, sound administrative and accounting procedures and robust reporting arrangements.

³⁰ DORA - Regulation (EU) No 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational resilience for the financial sector and amending Regulations (EC) No 1060/2009, (EU)No 648/2012, (EU) No 600/2014, (EU) No 909/2014 and (EU) 2016/1011 (OJ L 333, 27.12.2022, p.1, ELI: http://data.europa.eu/eli/reg/2022/2554/oj).

1. Apžvalga

1.1 Nuorodos

1.2 Nustatyti reikalavimai

1.3 Susiję standartai

2. Nustatyti reikalavimai

3. Susiję standartai

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/