Question
Is there a minimum number of administrators required to be present for a risk committee dedicated to internal control to validly hold its meetings ?
Background on the question
As part of an audit review of the governance framework and committee structure, we have observed that the risk committee dedicated to internal control is composed of four administrators; however, during one committee meeting, only two administrators were present, and we would like to understand whether this situation is compliant with EBA requirements or whether a minimum number of administrators is required to be present for the committee to validly hold its meetings.
Answer
This question has been rejected because the issue it deals with is already explained or addressed in the regulatory framework, which is sufficiently clear and unambiguous.