CPS 230 para 53 Due Diligence Before Entering or Modifying a Material Arrangement
Before entering into or materially modifying a material arrangement the entity must undertake appropriate due diligence including a proper selection process and an assessment of the provider ability to deliver on an ongo
3
artefacts
0
held by a system
2
at each review
hard
to go live
Vendor register / contract 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
- Due diligence files and selection records · Vendor register / contract repository
- Financial and non financial risk assessments · Vendor register / contract repository
governing documentDocuments that govern the control
- Geographic location and concentration analysis · Vendor register / contract 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
- Due diligence performed at onboarding but not on material modification
- Concentration across providers never assessed
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 51 Annual Submission of the Material Service Provider Register to APRA · CPS 230 para 54 Formal Agreement Content for Material Arrangements