It is good business practice for companies to conduct an annual audit on overall systems and controls. This acts as a proactive health check.
CATS can conduct a thorough audit on your business. Please find below some examples of what the audit will entail are: –
- A review of the advice process
- A review of a client files
- Review of the client proposition including disclosure documents
- Review of the firm’s investment strategy
- Review of the firm’s T&C scheme
- Review of the firm’s Compliance Manual including Anti-money Laundering Procedures, Financial Promotion Procedures, Complaint Handling Procedures, Whistle blowing, etc.
- Review of the firm’s Business Continuity Plan and Data Security Audit
- Review how any appointed representatives are monitored
- Review of registers
- Review of the firm’s effective management information
This is a full day’s audit. At the end of the day you will receive high level verbal feedback on the findings. This will be followed by a written report, which will contain an action plan of the points that we strongly recommend you address. The audit will cover both compulsory compliance aspects and best practice requirements.