What evidence do auditors commonly ask for on CPS 230 para 32 Notify APRA within 72 hours of a material operational risk incident?

APRA notification procedure stating the 72-hour clock, the materiality determination and the decision owner; Incident log fields recording awareness time, materiality determination time and APRA notification time; Copies of notifications lodged with APRA and acknowledgements; Record of the CPS 234 cross-check where an incident was notified under CPS 234 instead.

What is the most common gap auditors find on CPS 230 para 32?

Clock started from incident closure rather than from awareness

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

`CPS 230 para 32` Notify APRA within 72 hours of a material operational risk incident

Clock: as soon as possible, and at the latest 72 hours from the time the entity becomes aware. Trigger: an operational risk incident the entity has determined is likely to cause a material financial impact, or to materially affect its ability to keep its critical operations running. An information security incident already notified to APRA under CPS 234 need not be notified again under this paragraph.

Source: APRA CPS 230, CPS 230 para 32. 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

moderate

to go live

Regulator portal / correspondence

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

Incident log fields recording awareness time, materiality determination time and APRA notification time · Regulator portal / correspondence

periodic reviewEvidence produced at each review

Record of the CPS 234 cross-check where an incident was notified under CPS 234 instead · Regulator portal / correspondence

governing documentDocuments that govern the control

APRA notification procedure stating the 72-hour clock, the materiality determination and the decision owner · Policy repository / GRC workspace
Copies of notifications lodged with APRA and acknowledgements · Policy repository / GRC workspace

First move

Start with the 1 of 4 artefacts that already live in a system (Regulator portal / correspondence); keep the periodic reviews but log each one as a dated record with a named reviewer.

Common gaps auditors find

Clock started from incident closure rather than from awareness
No documented materiality determination, so notification decisions cannot be evidenced

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 31 Identify, escalate, record and address incidents and near misses · CPS 230 para 33 Business continuity duties: critical operations register, minimise disruption, credible BCP, activate, return