Press release: Software development processes of OMNINET pass audit according to IDW PS 951

Voit, Stefan | 21.02.2023
OMNINET Pressebeitrag IDW PS951 770x395 DE

OMNINET implemented a software solution for a major financial services provider in the Germany, with which outsourcing activities are managed in a centralized manner. For fiscal year 2021, the correctness, accuracy, effectiveness, and appropriateness of the internal control system (ICS) with regard to the software development processes was successfully audited on the basis of an audit in accordance with IDW PS 951.

The German Federal Financial Supervisory Authority (BaFin) regulatory “Minimum Requirements for Risk Management” (MaRisk) demands that essential outsourced services be strictly monitored with the aid of an ICS and that risk assessments be carried out in the process. These requirements are audited and verified using IDW PS 951.

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