entity means any kind of entity, and includes, for example, any person. means the function described in executive governance function rule 3.1.3. a function includes perform the function. exercise means the function described in rule 3.1.5. finance function (or means a person that has been granted an firm authorised firm) authorisation in accordance with FSR, part 5. means the FSR Financial Services Regulations. includes power. function means the GENE General Rules 2005. of an authorised firm has the meaning given by governing body rule 2.2.1. (or means an authorised firm that has an insurer QFC insurer) authorisation to conduct insurance business. means: internal auditor (a) in the case of an authorised firm that has an individual approved to exercise the internal audit function—that individual; and (b) in the case of an insurer that does not have such an individual—the firm of auditors appointed under a material outsourcing arrangement to which chapter 5 applies. For the approval or appointment of internal auditors, see r 3.2.5. Note means the function described in rule 3.1.10. internal audit function means each of the following controlled internal control function functions: (a) the compliance oversight function; (b) the risk management function; (c) the internal audit function;
entity means any kind of entity, and includes, for example, any person. executive governance function means the function described in rule 3.1.3. exercise a function includes perform the function. finance function means the function described in rule 3.1.5. firm (or authorised firm) means a person that has been granted an authorisation in accordance with FSR, part 5. FSR means the Financial Services Regulations. function includes power. GENE means the General Rules 2005. governing body of an authorised firm has the meaning given by rule 2.2.1. insurer (or QFC insurer) means an authorised firm that has an authorisation to conduct insurance business. internal auditor means: (a) in the case of an authorised firm that has an individual approved to exercise the internal audit function—that individual; and (b) in the case of an insurer that does not have such an individual—the firm of auditors appointed under a material outsourcing arrangement to which chapter 5 applies. Note For the approval or appointment of internal auditors, see r 3.2.5. internal audit function means the function described in rule 3.1.10. internal control function means each of the following controlled functions: (a) the compliance oversight function; (b) the risk management function; (c) the internal audit function;
QFCRA_9107_VER4.docx