Banking, Insurance and Life Insurance (prudential standard) determination No. 2 of 2012 - Prudential Standard CPS 232 - Business Continuity Management
Review and testing of the BCPReview and testing of the BCP
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Review and testing of the BCP
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A regulated institution must review and test its BCP at least annually, or more frequently if there are material changes to business operations, to ensure that the BCP can meet the BCM objectives. The results of the testing must be formally reported to the Board or to delegated management.[8]
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The BCP must be updated if shortcomings are identified as a result of the review and testing required under paragraph 29.