Financial Institutions

Project was commissioned by a Bank support for the internal audit departments of banks the AuditFactory, to support their internal audit deposits and WpHG acquisition scrutiny. The audit focus should be placed on the proper implementation MiFID rules. Our mission was to test the following objects to be scanned: monitoring function of the compliance unit ( 33 WpHG) customer classification ( 31 15a WpHG) safeguards – and suitability testing ( 31 WpHG) post-trade transparency (article 31 h WpHG) financial analysis ( 34 b German Securities Trading Act) dishonest advertisement “cold calling” – ( 36 b WpHG) messages according to 9 WpHG these test systems have been selected on the basis of findings made in other tests of the internal as well as external audit or due to subject specifications of the this year’s audit plan. To broaden your perception, visit celebrity trainer. Our audit aimed at complying with the legal and internal requirements to assess and progress on the disposition of the results to assess. Due to our experience, we could develop a risk-oriented audit approach for each test, which takes into account the requirements of the banking-related compliance, internal control system (ICS) and its effectiveness (performance). Complex audit areas such as the WpHG and the MiFID regulations require the use of experienced internal auditors “, so Elmar brother-in-law, Managing Director of the AuditFactory.

In this case we could prove once again that our NetWorker for such tasks are best suited. A barely perceptible training time and the professional competence of our colleagues have convinced our clients.” The internal audit is an important part of the corporate audit function and of the risk-based control system in credit institutions. In particular small and medium-sized banks have a comparatively high level personnel in the implementation of the tasks of the internal audit activity in accordance with the minimum requirements for risk management (MRisk) of the Bundesanstalt fur Finanzdienstleistungsaufsicht (BFin) and administration expenses. With a strategic sourcing of this function, banks can accurately estimate your costs and at the same time ensure compliance with all requirements of law, as well as their audit plan. Also if you have sporadic need for revision for the bridging of vacancies, is an interim manager by the AuditFactory the right solution. Elmar’s brother-in-law, the AuditFactory