What evidence do auditors commonly ask for on CPS 230 para 23 Manage the full range of operational risks end to end?

Operational risk taxonomy listing at least the named risk types, each with an owner; End-to-end process maps for business operations with risks and controls attached; Senior management accountability assignments per end-to-end process.

What is the most common gap auditors find on CPS 230 para 23?

Taxonomy omits change management or data risk

APRA CPS 230 · Operational risk management, controls and incidents (paras 23 to 32)

`CPS 230 para 23` Manage the full range of operational risks end to end

The entity has to manage every type of operational risk, which includes (without being limited to) technology, data, legal, compliance, regulatory, conduct and change management risk. Responsibility for operational risk management sits with senior management across each end-to-end process for every business operation.

Source: APRA CPS 230, CPS 230 para 23. 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.

artefacts

held by a system

at each review

hard

to go live

Document repository

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

none for this control

governing documentDocuments that govern the control

Operational risk taxonomy listing at least the named risk types, each with an owner · Document repository
End-to-end process maps for business operations with risks and controls attached · Document repository
Senior management accountability assignments per end-to-end process · Document repository

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

Taxonomy omits change management or data risk
Risks managed by function with nobody owning the end-to-end process

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.

Build my evidence sheet

CPS 230 para 22 Senior management informs the Board on impacts to critical operations · CPS 230 para 24 Sound information and IT capability; monitor asset age and health; meet CPS 234