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How often do we need to perform the relevant audits?

As defined in Article 3(2) of the Regulatory Technical Standards (<a href="/glossarycollection/regulatory-technical-standards" style="color:#48277C;" target="_blank" title="Regulatory Technical Standards"><u>RTS</u></a>):<br/><br/>

"During the first year of making use of the exemption under Article 18 and at least every 3 years thereafter, or more frequently at the competent authority's request, this audit shall be carried out by an independent and qualified external auditor." Otherwise the RTS audit should be determined "taking into account the relevant accounting and statutory audit framework applicable to the payment service provider."

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