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Q. Audit Arrangements

No: 41027017 Date(g): 15/12/2019 | Date(h): 18/4/1441 Status: In-Force
38.Banks' internal audit function must audit Material outsourced activities on a regular basis and report to the Board or Board Audit Committee on compliance with the outsourcing policy.
 
39.SAMA may request an appropriate external expert to provide an assessment of the risk management processes in place in regards to the outsourcing of a Material business function or activity. This could cover areas such as information technology systems, data security, internal control frameworks and business continuity plans.