{"id":307,"date":"2021-02-03T06:25:02","date_gmt":"2021-02-03T06:25:02","guid":{"rendered":"https:\/\/rvkassociates.com\/blog\/?p=307"},"modified":"2021-02-18T12:35:09","modified_gmt":"2021-02-18T12:35:09","slug":"rbi-2020-21-88ref-no-dos-co-ppg-sec-05-risk-based-internal-audit-rbia","status":"publish","type":"post","link":"https:\/\/rvks.in\/blogs\/rbi-2020-21-88ref-no-dos-co-ppg-sec-05-risk-based-internal-audit-rbia\/","title":{"rendered":"RBI , 2020-21, Notification , Risk-Based Internal Audit (RBIA)."},"content":{"rendered":"\n<p class=\"has-text-align-right\">February 03, 2021<\/p>\n\n\n\n<ol class=\"is-style-none wp-block-list\"><li>The Chairman \/ Managing Director \/ Chief Executive Officer<br>All deposit taking Non-Banking Finance Companies (NBFCs)<br>All non-deposit taking NBFCs (including Core Investment Companies) with asset size of \u20b95,000 crore and above<br>All Primary (Urban) Co-operative Banks (UCBs) with asset size of \u20b9500 crore and above<\/li><\/ol>\n\n\n\n<p>Madam \/ Dear Sir,<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Risk-Based Internal Audit (RBIA)<\/span><\/strong><\/p>\n\n\n\n<ol class=\"is-style-none wp-block-list\"><li>1.  An independent and effective internal audit function in a financial entity provides vital assurance to the Board and its senior management regarding the quality and effectiveness of the entity\u2019s internal control, risk management and governance framework. The essential requirements for a robust internal audit function include, inter alia, sufficient authority, proper stature, independence, adequate resources and professional competence.<\/li><\/ol>\n\n\n\n<ol start=\"2\" class=\"is-style-none wp-block-list\"><li>2.  The range and commonality of risks faced by Supervised Entities (SEs) would warrant effective and harmonized systems and processes for the internal audit function across the SEs based on certain common guiding principles.<\/li><\/ol>\n\n\n\n<p><strong>Read More&#8230;..<\/strong><\/p>\n\n\n\n<p><strong>Click below&#8230;..<\/strong><\/p>\n\n\n\n<p><a href=\"http:\/\/bit.ly\/Rbi-Risk-Based-Internal-Audit\">http:\/\/bit.ly\/Rbi-Risk-Based-Internal-Audit<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>February 03, 2021 The Chairman \/ Managing Director \/ Chief Executive OfficerAll deposit taking Non-Banking Finance Companies (NBFCs)All non-deposit taking NBFCs (including Core Investment Companies) with asset size of \u20b95,000 crore and aboveAll Primary (Urban) Co-operative Banks (UCBs) with asset size of \u20b9500 crore and above Madam \/ Dear Sir, Risk-Based Internal Audit (RBIA) 1. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":48,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,14],"tags":[34],"class_list":["post-307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-notifications","category-rbi","tag-rbi"],"_links":{"self":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/comments?post=307"}],"version-history":[{"count":3,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/307\/revisions"}],"predecessor-version":[{"id":570,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/307\/revisions\/570"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/media\/48"}],"wp:attachment":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/media?parent=307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/categories?post=307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/tags?post=307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}