<h1>Assurance Functions Key to Financial Stability: Independence, Tech, and Vigilance Crucial in Risk Management and Compliance.</h1> The Deputy Governor of the Reserve Bank of India emphasized the critical role of assurance functions in maintaining financial stability during a conference in Mumbai. He highlighted the importance of independence and proactive risk management within compliance, risk, and internal audit functions. Assurance functions act as vital safeguards against financial risks, including cyber-security and climate threats. The Deputy Governor stressed the need for a regulation-plus approach, robust risk management, and independence in assurance roles. He encouraged leveraging technology for risk assessment and maintaining vigilance to prevent complacency, underscoring the importance of these functions for the financial system's health.