Principles on outsourcing final report

This report contains the revised outsourcing principles comprising a set of fundamental precepts and seven principles. The fundamental precepts cover issues such as the definition of outsourcing, the assessment of materiality and criticality, affiliates, sub-outsourcing and outsourcing on a cross-border basis. The seven principles set out expectations for regulated entities that outsource tasks, along with guidance for implementation. It also contains sections on particular sectors and issues and Annex A provides a report on outsourcing among credit rating agencies, including the use of cloud computing as well as a brief regarding the impact of COVID-19 on outsourcing and operational resilience.