Regulatory Alerts2017-10-31
Added · Updated
Supervisory Policy Manual Module IC-2 Internal Audit Function
The Hong Kong Monetary Authority issues this non-statutory guideline to define expectations for the internal audit function of all authorized institutions. It mandates that boards and senior management ensure the internal audit function maintains independence, authority, and adequate resources to provide objective assessments of internal controls. The document outlines specific responsibilities for governance bodies, required qualities for auditors, and the supervisory assessment methods used to evaluate function effectiveness.
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