An effective RBIA is an audit methodology that links an organisation's overall risk management framework and provides an assurance to the Board of Directors and the senior management on the quality and effectiveness of the organisation's internal controls, risk management and governance-related systems and processes.source https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-extends-risk-based-internal-audit-system-to-hfcs/articleshow/83430882.cms
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