The Monetary Authority of Singapore (“MAS”) released the Guidelines on Outsourcing on 27 July 2016 with an immediate effective date. These represent updated requirements on the previously issued MAS Guidelines on Outsourcing and introduce guidance on cloud services.
PwC has reviewed these Guidelines and summarised the key points to consider in the following "Straight Away" document for our clients.
Trust is so important where you rely upon others to keep your promises. Specialisation, offshoring, outsourcing and cost cutting - this is the reality of business and your reliance on third parties will only grow. A complex portfolio of relationships needs to work effectively to deliver the promises you make to all your stakeholders.