HC-10.1.3
The Board, Audit Committee and senior management must:
(a) Promote a strong and robust internal control environment within the licensee ;
(b) Provide the IAF staff full and unconditional access to all files, records, data, documents, systems, properties, subsidiaries and overseas branches of the licensee ;
(c) Require that all internal audit findings and recommendations are resolved within a reasonable period of time to be set based on level and magnitude of risk;
(d) Allocate sufficient annual budget to support the IAF’s activities and plans; and
(e) Inform the IAF of new developments, initiatives, projects, products and operational changes.
Added: April 2023