✨ Banking Regulations
24 JUNE 2011 NEW ZEALAND GAZETTE, No. 88 2463
4 Internal audit function of banking group
(1) A statement whether the banking group has an internal audit function.
(2) If the banking group has an internal audit function, a statement describing—
(a) the nature and scope of the internal audit function, including type and frequency of audits; and
(b) the reporting responsibilities of internal audit; and
(c) whether there is a board audit committee, and if so, the nature and scope of that committee’s responsibilities.5 Access to parental disclosures
A statement as to how users can access disclosures made by the ultimate parent bank or ultimate holding company in relation to capital adequacy requirements or risk management processes implemented by the ultimate parent bank or ultimate holding company.REBECCA KITTERIDGE, Clerk of the Executive Council.
Explanatory note
This note is not part of the order, but is intended to indicate its general effect.
This order comes into force on 30 June 2011 and replaces the Registered Bank Disclosure Statement (Full and Half-Year—Overseas Incorporated Registered Banks) Order 2008. The purpose of this order is to give legal effect to the current versions of material incorporated by reference in reliance on section 81AA and in accordance with Schedule 3 of the Reserve Bank of New Zealand Act 1989.
This Order in Council is administered in the Reserve Bank of New Zealand.
Next Page →
NZ Gazette 2011, No 88
✨ LLM interpretation of page content
💰
Risk Management Policies for Banking Groups
(continued from previous page)
💰 Finance & RevenueRisk management, Banking regulations, Internal audit, Parental disclosures
- REBECCA KITTERIDGE, Clerk of the Executive Council