2. The overview shall include information on the following matters:
1. 1. An application for registration as a trade repository shall contain andetailed overviewinformation relating to the internal control system of the internalapplicant, controls of the applicant. This shall includeincluding information regarding its compliance function, review function, risk assessment, internal control mechanisms and arrangements of its internal audit function.
2.The detailed information referred to in paragraph 1 shall contain:
(a)((a)) the applicants’applicant's internal control policies and procedures;respective procedures related to their consistent and effective implementation;
(b)((b)) any policies, procedures and manuals regarding the monitoring and evaluation of the adequacy and effectiveness of the applicant’sapplicant's systems;
(c)((c)) any policies, procedures and manuals regarding the control and safeguard for the applicant’sapplicant's information processing systems;
(d)((d)) the identity of the internal bodies in charge of the evaluation of the relevant internal control findings.
3. 3. An application for registration as a trade repository shall contain the following information with respect to the applicant’sapplicant's internal audit function:activities:
(a)the composition of any Internal Audit Committee, its competences and responsibilities;
(b)its internal audit function charter, methodologies, standards and procedures;
(c)((a)) an explanation of how its internal audit charter, methodology isand procedures are developed and applied taking into account the nature and extent of the applicant’sapplicant's activities, complexities and risks;
(d)((b)) a work plan for three years following the date of application.application addressing the nature and extent of the applicant's activities, complexities and risks.