CPS 230 para 28 Risk Assessment Before Providing a Material Service to Another Party
Before providing a material service to another party the entity must conduct a comprehensive risk assessment to confirm it will still be able to meet its prudential obligations after entering the arrangement.
3
artefacts
0
held by a system
2
at each review
hard
to go live
Document repository
where the evidence lives
teal = a system already holds it · olive = produced at each review
system holds itEvidence a system already holds
none for this control
periodic reviewEvidence produced at each review
- Risk assessments for services provided to other parties · Document repository
- Approval records before the arrangement commences · Document repository
governing documentDocuments that govern the control
- Prudential obligation impact conclusions · Document repository
First move
This control is evidenced by people and documents, not systems. Put the document under version control with an owner and review date, and log each review as a record with reviewer and date. Do not try to automate it.
Common gaps auditors find
- Only inbound service arrangements assessed
- Assessment performed after the arrangement began
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 sheetCPS 230 para 27 Comprehensive Assessment of the Operational Risk Profile · CPS 230 para 29 Design and Embedding of Internal Controls