EvidenceSheet
APRA CPS 230 · Key principles and operational risk management framework (paras 11 to 18)

CPS 230 para 16 Review operational risk management within the CPS 220 / SPS 220 framework reviews

When the entity carries out the risk management framework reviews required by CPS 220 or SPS 220, it must include a review of its operational risk management, and that review must address every element listed in para 15.

Source: APRA CPS 230, CPS 230 para 16. The statement above is our statement of the clause, read from the published text and cited so you can check it against the official text, not the instrument verbatim. Open APRA CPS 230 in the compliance library.

Applies to APRA-regulated entities.

3
artefacts
0
held by a system
2
at each review
hard
to go live
Policy repository / GRC workspace
where the evidence lives
teal = a system already holds it · olive = produced at each review. To go live: easy when half or more of the artefacts are already held by a system, moderate from a quarter to a half, hard below a quarter.

These are the artefacts auditors commonly ask for on this requirement, our guidance rather than text from the standard. Your assessor decides what is sufficient in your context, and asks for samples across the period when a report covers one.

system holds itEvidence a system already holds

none for this control

periodic reviewEvidence produced at each review

  • Comprehensive review report with findings on operational risk management · Document repository
  • Board or risk committee minutes receiving the review and tracking actions · Policy repository / GRC workspace

governing documentDocuments that govern the control

  • Scope and terms of reference of the latest CPS 220 / SPS 220 framework review showing each para 15 element in scope · Policy repository / GRC workspace

First move

No system holds this evidence for you: it is people and documents. Reminders and routing to the owner still save time. Put the document under version control with an owner and review date, and log each review as a record with reviewer and date.

Common gaps auditors find

Do this for your whole sheet

Paste the rows you run your controls from and get this mapping for every control at once, with the periodic-review ones flagged and a first move per row. No account for the first run.

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CPS 230 para 15 Operational risk elements of the risk management framework · CPS 230 para 17 Integrate operational risk management; align BCP with recovery and exit planning