Audit & Compliance
Risk Based Internal Auditing (RBIA) is a audit methodology that links an organisation's overall risk management framework and allows internal audit function to provide assurance to the board that risk management processes effectively, in line with risk appetite define by the Bank.
The Basel Core Principle for Effective Banking Supervision, and Basel/OECD Corporate Governance Principles of Banks requires the internal audit function to conduct the RBIA.
BIS issued “Basel III: A global regulatory framework for more resilient banks and banking system” in 2010 in order to strengthen global capital and liquidity rules with the goal of promoting more resilient banks and revised it in 2011.
Thereafter, BCBS formulated six frameworks relating to Basel III.
· Basel III: The Liquidity Coverage Ratio and liquidity risk monitoring tools,
· Guidance for national authorities operating the countercyclical capital buffer,