https://www.taxtmi.com/news?id=27170 Assurance functions-compliance, risk management and internal audit-must have adequate independence and stature to identify, escalate and facilitate proactive management of risks. They provide layered lines of defence: business units as the first line, compliance and risk frameworks as the second, internal audit as the third, with external audit and supervision as subsequent complementary lines. Operational focus includes "regulation-plus" compliance, timely remediation of RAR and RMP observations, ICAAP-aligned capital and risk appetite planning, strict monitoring of risk limit breaches, risk-based audit scoping, and use of technology for continuous monitoring. en-us Wed, 17 Jan 2024 17:22:17 +0530 Wed, 17 Jan 2024 17:22:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=27170 Assurance functions-compliance, risk management and internal audit-must have adequate independence and stature to identify, escalate and facilitate proactive management of risks. They provide layered lines of defence: business units as the first line, compliance and risk frameworks as the second, internal audit as the third, with external audit and supervision as subsequent complementary lines. Operational focus includes "regulation-plus" compliance, timely remediation of RAR and RMP observations, ICAAP-aligned capital and risk appetite planning, strict monitoring of risk limit breaches, risk-based audit scoping, and use of technology for continuous monitoring. News - Wed, 17 Jan 2024 17:22:17 +0530 https://www.taxtmi.com/news?id=27170