Sets the HKMA's expectations of internal audit: the hierarchy of responsibilities (board, senior management, the function, the audit committee); the key qualities of independence, authority and standing, objectivity and impartiality, resources and professional competence, and continuity; the work process (audit plan, programme, procedures, reporting, follow-up); the relationship with risk management, compliance and the external auditors; outsourcing of internal audit; and the HKMA's assessment of the function's effectiveness. Classification: a non-statutory guideline issued as a guidance note; version V.2, 31.10.2017; applies to all AIs.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.