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by ESMA, published in its Q&A tool · not legislation · published 8 May 2026 [Answer Published]","attribution":{"prepared_by":"ESMA","published_by":"ESMA","published_in":"ESMA Q&A tool","document_type":"qa_answer","legal_nature":"not_legislation","addressees":"not stated in the document","dates":{"published_on":"2026-05-08","question_submitted_on":"2026-04-30","locators":{"published_on":"ESMA Q&A Excel export ESMA_QA_2839, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_2839, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/2839","check":{"result":"matched","checked_at":"2026-10-26","against":"the ESMA publication"},"repo_path":"spaces/mar/level-3/q-and-a/esma/esma-qa-2839-annually-conducted-audit-under-commission-delegated.md","body_sha256":"f7a3560e6cca4acc9c86796d2bf74a2ed114b6a73701e235aa6985202f1ed1ec"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 2839 — Q&A — Annually conducted audit under Commission Delegated [Answer Published]\"\nshortTitle: \"ESMA Q&A 2839 — Q&A — Annually conducted audit under Commission Delegated [Answer Published]\"\nanswer_id: ESMA_QA_2839\ntopic: \"Prevention and detection of market abuse, including STORs\"\nstatus: \"Answer Published\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: in_force\nregulation: \"MAR\"\nmar_level3: true\nmica_level2: false\nlegal_basis: \"MAR\"\ndate: 30 April 2026\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/2839\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 30 April 2026\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/2839\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\nchecked_against: \"the ESMA publication\"\nsource:\n  prepared_by: \"ESMA\"\n  published_by: \"ESMA\"\n  published_in: \"ESMA Q&A tool\"\n  evidence:\n    prepared_by: \"ESMA Answer\"\n    locator: \"ESMA Q&A entry ESMA_QA_2839: field 'ESMA Answer', no 'Answer provided by' line\"\ndocument_type: \"qa_answer\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  published_on: \"2026-05-08\"\n  question_submitted_on: \"2026-04-30\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_2839, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_2839, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 8 May 2026 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 30 April 2026 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/2839)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 2839 — Q&A — Annually conducted audit under Commission Delegated \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_2839 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 8 May 2026; question submitted 30 April 2026 |\n| **Legal basis** | MAR |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**Annually conducted audit under Commission Delegated Regulation (EU) 2016/957**\n\n### Question\n\nUnder Article 2(5)(b) of Commission Delegated Regulation (EU) 2016/957 (“RTS on STORs”), should the annually conducted audit of arrangements, systems and procedures be performed by an external auditor, or would an internal audit be sufficient? How should the “internal review” mentioned alongside the audit be understood?\n\n***\n\n### Answer\n\nCommission Delegated Regulation (EU) 2016/957 does not explicitly specify whether the annual audit should be external or internal. Therefore, Persons Professionally Arranging or Executing Transactions (PPAETs) and trading venues may conduct the required annual audit either internally or externally. If it is carried out internally, the audit is expected to be performed by an independent function. It is also worth noting that the reference to an internal review should be understood as a complementary exercise to the audit.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/2839)\n"}