This Module provides detailed Rules and Guidance on risk management systems and controls requirements for insurance licensees. It expands on certain high-level requirements contained in various High-Level Standards Modules. In particular, Section AU-2.6 of Module AU (Authorisation) outlines the systems and controls required as part of the licensing conditions and Principle 10 of the Principles of Business (ref. PB-1.10) requires insurance licensees to have systems and controls sufficient to manage the level of risk inherent in their business.