Skip to the text
In this act Article 24 of 92
Text as of 2 Aug 2022 · Consolidated version of 2 August 2022 · Same wording as today’s text.Today’s text

Article 24 — Internal audit (Article 16(5) of Directive 2014/65/EU)

Financial servicesLevel 2Delegated RegulationMiFID IIIn forceOfficial source

Investment firms shall, where appropriate and proportionate in view of the nature, scale and complexity of their business and the nature and range of investment services and activities undertaken in the course of that business, establish and maintain an internal audit function which is separate and independent from the other functions and activities of the investment firm and which has the following responsibilities:

24(a)
(a)establish, implement and maintain an audit plan to examine and evaluate the adequacy and effectiveness of the investment firm's systems, internal control mechanisms and arrangements;
Copy link
24(b)
(b)issue recommendations based on the result of work carried out in accordance with point (a) and verify compliance with those recommendations;
Copy link
24(c)
(c)report in relation to internal audit matters in accordance with Article 25(2).
Copy link