Regulatory Reporting vs Operational Workload

Business Context

DORA requires financial institutions to produce timely and accurate information regarding ICT incidents, operational resilience, third-party risks, and governance activities. Regulatory reporting increases transparency and supervisory oversight, but preparing reports often requires significant coordination across technology, cybersecurity, legal, compliance, and business teams.

Conflict

Increasing reporting improves regulatory transparency but consumes operational resources. Reducing reporting effort improves efficiency but may weaken regulatory compliance.

Regulatory Obligations

Establish regulatory reporting procedures

Define reporting responsibilities

Validate report accuracy

Maintain reporting evidence

Meet regulatory deadlines

Periodically review reporting processes

Business Risks

Administrative burden

Resource constraints

Delayed operational activities

Compliance Risks

Late submissions

Inaccurate reporting

Regulatory findings

Recommended Controls

Automate reporting wherever possible by integrating governance platforms, ICT monitoring tools, and risk management systems. Standardized reporting templates and clearly assigned responsibilities improve both efficiency and reporting quality.

Evidence Required

Regulatory Reporting Policy

Reporting Procedures

Submitted Reports

Governance Records

Reporting Review Documentation

Audit Questions

Are reporting responsibilities clearly assigned?

Are regulatory deadlines consistently achieved?

Is reporting accuracy verified?

Are reporting processes periodically reviewed?

Suggested Kpis

Percentage of reports submitted on time

Number of reporting errors identified

Average reporting preparation time

Number of reporting-related audit findings