Bank of Mauritius Guideline on Use of Cloud Services (2022)
Sections 2 and 3: Risk assessment and materiality assessment – Bank of Mauritius Guideline on Use of Cloud Services (2022)

Bank of Mauritius Guideline on Use of Cloud Services (2022) 3.1: Assess materiality against the minimum factors

What does 3.1 require?

In deciding whether a cloud service is material the institution considers at least the nature and criticality of the services and IT assets; what a confidentiality breach, failure or disruption would mean, directly or indirectly, for the institution and for its customers, including its ability to meet legal and regulatory requirements and to keep operating and serving customers; the share of total operating cost the services represent; how hard it would be to find or migrate to another provider or bring the services in house; the potential effect on earnings now and ahead, on solvency, liquidity, funding, capital and the risk profile; and whether internal controls and regulatory compliance could be sustained if the provider suffers an operational failure.

Maintained by Gerard Blokdyk

Other controls in Sections 2 and 3: Risk assessment and materiality assessment – Bank of Mauritius Guideline on Use of Cloud Services (2022)

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