Regulators require banks, investment and insurance companies to have their internal control systems reviewed annually by a firm other than the external auditor. We issue the report in the required format, sections and opinions, and discuss findings with management before finalising.
Scope
Adequacy & effectivenessOf controls over operations, financial reporting and compliance.
Governance & riskIn line with the regulator’s corporate governance instructions.
AML/CFTAnti-money laundering and combating the financing of terrorism.
ConfidentialityProtection of customer information.
Securities activitiesControls over investment activities.
Follow-upImplementation of prior-year observations.
Our approach
PlanUnderstand objectives, structure and focus areas.
ExecuteIdentify risks and controls; test design and effectiveness.
MonitorReview implementation of prior recommendations.
ReportRate findings by significance and present to the Board.
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