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Independent auditors for banks' outsourcing vendors
Published Fri, Jun 26, 2015 · 09:50 PM
Singapore
SINGAPORE-BASED firms handling outsourced work from banks involving sensitive data and material businesses must soon hire an independent auditor to go through their internal controls every year, and in effect, meet a set of guidelines outlined by the Association of Banks in Singapore (ABS).
This overturns the current set-up, where financial institutions have their audit…
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