CPS 234 para 34 Internal Audit Assessment of Third Party Control Assurance
Internal audit must assess the control assurance provided by a related party or third party where an incident affecting the assets could materially affect the entity or its customers and internal audit intends to rely on
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
system holds itEvidence a system already holds
none for this control
periodic reviewEvidence produced at each review
- Reliance decisions recorded with supporting assessment · Policy repository / GRC workspace
- Assessment of the third party assurance reports relied upon · Vendor register / contract repository
governing documentDocuments that govern the control
- Materiality determination for each reliance · Policy repository / GRC workspace
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
- Third party assurance accepted without assessment
- No record of why reliance was considered appropriate
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 234 para 33 Skill of Personnel Providing Control Assurance · CPS 234 para 35 APRA Notification of Material Incidents within 72 Hours