GRCStandard

CPS 232

Prudential Standard CPS 232 Business Continuity Management

CPS 232 is an Australian Prudential Standard that outlines the requirements for regulated entities to maintain and manage effective business continuity plans. It ensures that entities are prepared to address and recover from disruptions to their operations.

Overview

The standard is issued by the Australian Prudential Regulation Authority (APRA) and emphasizes the need for financial institutions to establish a framework for business continuity management. This includes identifying critical business operations, assessing risks, and implementing mitigation strategies to ensure resilience during adverse events. Updated as of July 2017, it provides detailed requirements for governance, testing, and review mechanisms to maintain operational continuity.

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