PRINCE2 requires that the business case be formally verified by the project board at stage boundaries. This verification is essential to ensure that the project remains viable and desirable from a business perspective.
The project board's review of the business case at these critical points helps in deciding whether the project should continue into its next stage.
PRINCE2 Foundation Manual

Section: Volume B
Explanation

Section: Volume B
Explanation/Reference:
Reference https://www.prince2primer.com/tailoring-prince2-methodology/

Both statements about the Project Initiation Documentation (PID) are correct. The PID is essential for establishing a solid foundation for the project, ensuring that all stakeholders agree on the project's objectives and how it will be managed before the Project Board authorizes it. Additionally, the PID should be updated at the end of each stage to reflect the current status of the project, ensuring that it continues to meet the project's requirements and objectives. References: PRINCE2 Foundation official documentation and study materials.

Section: Volume B