Internal audit services
An effective internal audit requires a diversity of skills that many companies find difficult to source and retain. Increasing numbers of companies are leveraging the benefits of outsourcing to support their corporate governance and risk management requirements.
The internal audit’s objective is fundamentally assurance, supporting and helping embed a culture of risk awareness in a firm. Looking at the past and present to provide assurance that all activities are being carried out in accordance with the written policy, procedure and relevant regulations.
FAI Comply assists clients by providing a fully outsourced service that executes a full-scope, risk-focused internal audit plan with a designated in-house contact, who reports to the board of director of our clients. This includes:
Implementing an internal audit charter with the board
Implementing a risk-based internal audit plan
Evaluating and contributing to the improvement of governance, risk management, and regulatory control processes using a systematic and disciplined approach
Periodic reporting to senior management and the board
Providing ongoing support services
Prepare the annual report of the internal auditor for submission to CySEC
At FAI Comply, we tailor each package to suit our clients’ needs, from providing training, support and guidance, to overseeing each and every function and being fully outsourced. This is done through our consulting process, which involves gaining a deep understanding of our client’s needs and goals. From investment firms, payment services providers, straight-through processing models and complex market makers, to portfolio management and investment advice, we are able to put in place and oversee all the necessary requirements of the regulator.
In today’s financial services industry nothing could be more important to the success and continuation of the business than to ensure that firms stay on the right side of their relevant regulations.
ICAAP & Capital Adequacy reporting
The "Internal Capital Adequacy Assessment Process” (ICAAP) is an overall valuation of the risks a financial institution faces, how they intend to mitigate those risks and how much current and future capital is needed having considered other mitigating factors.
Insider trading, collusion, terrorist financing and money laundering, among other things, means that compliance and anti-money laundering (AML) carry considerable risk.
Due diligence & investigations
Our team of experts at FAI Comply is able to assist your company in this changing landscape and offer high-quality advice on a broad range of regulatory issues. We seek to understand your business and provide you with practical and cost-effective solutions, through our responsive and flexible approach.
Risk management services
In the financial world, the ever-evolving set of regulations following the recent financial crises have highlighted the critical importance of having highly defined risk management controls.
Internal audit services
An effective internal audit requires a diversity of skills that many companies find difficult to source and retain. Increasingly companies are leveraging the benefits of outsourcing to support their corporate governance and risk management requirements.