4  BIS central bankers’ speeches  The critical elements of IT risk relate to, Safety and Security, Availability, Performance and Compliance. What are the issues that need to be taken note of by the banks? The IT systems of the banks are often web enabled.
These important developments are very similar to approaches found in Pillars 2 and 3 of the revised framework. Auditors are also revising the scope of their work in ways that speak to many of the Basel Committee’s concerns.