MaGo – function of the internal audit- Irrespective of a division of departments, original entrepreneurial management tasks remain in the overall responsibility of the board of directors as non-delegable management tasks. With regard to the audit, these original management tasks can be of a conceptual and organizational nature, such as the...
Author: p400123
MaGo – Internal Control System- The companies design the internal control system depending on their risk profile. The internal control system must be appropriately integrated into the structures and processes of the organizational and operational structure so that it fulfills its purpose.
The internal control system also takes outsourced...
MaGo – spin-off – terms
MaGo – Insurance Outsourcing- In this post, the term “spin-off” is used interchangeably with the term “outsourcing”, both terms are used synonymously in legal sources. Further outsourcing from one service provider to another service provider is referred to as sub-delegation. Pursuant to § 7 No. 2 VAG, a defining feature...
MaRisk 6.0: Stricter requirements for contingencies. From the ICT guidelines, requirements for contingency management are implemented in the revised section AT 7.3. For all time-critical activities and processes identified as part of an impact analysis to be carried out, risk analyzes must first be carried out. The contingency plan must show...
BaFin requirements for monitoring systems AMLA: The requirements for monitoring systems are specified in Chapter 6 of the interpretation notes of the BaFin special section for credit institutions. These interpretative notes also have an impact on other obliged entities within the meaning of the AMLA.
What requirements does BaFin place on the...