Regulatory Alerts2017-10-31
Added · Updated
Revision of Supervisory Policy Manual Module IC-2 Internal Audit Function
The Hong Kong Monetary Authority issued a revised version of Supervisory Policy Manual Module IC-2 to align with guidelines from the Basel Committee on Banking Supervision and the Financial Stability Board. The update provides enhanced guidance on the roles and responsibilities of authorized institutions' internal audit functions and Audit Committees, while outlining potential supervisory actions for identified deficiencies. This revised module takes effect on 1 January 2018.
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