The criteria for assessing the appropriateness, adequacy and effectiveness of the systems, resources and procedures employed by external reviewers to comply with their obligations under Regulation (EU) 2023/2631, as referred to in Article 26(1) of that Regulation, shall be the following:
the systems that are in place safeguard the security, integrity and confidentiality of information and ensure the continuity and regularity in the performance of external reviews;
the human, technical and material resources deployed are sufficient to identify, manage, monitor and report the risks:
that an external reviewer is or might be exposed to;
the risks that the external reviewer poses or might pose to others;
the procedures that are in place for the objective and consistent application of assessment methodologies comprise the following elements:
processes to collect quantitative and qualitative information for the assessment activities, including from the issuer or originator, public sources or third parties;
measures to address potential shortcomings in the collection and assessment of information;
processes governing the review and reporting of errors in assessment methodologies or in their application;
techniques, methods and protocols for designing, periodically testing and reviewing assessment activities, key assumptions and measurement data.