APRA Prudential Standard APS 231 – Outsourcing: Overview and Summary of Requirements

• By: Staff Editor
• Date: June 13, 2013

This APRA Prudential standard requires regulated institutions to carry out appropriate due diligence and monitoring of their outsourcing arrangements. The standard requires that regulated institutions have a board-approved policy, legally binding agreements and managing processes for outsourcing of material businesses. It also calls for consulting and notifying the APRA before regulated institutions enters into these outsourcing arrangements.