Compliance program audit: key considerations

Here are some key points addressed by our partner, Ambre Steyer, during the latest webinar organized on this topic by the AFJE.

Feedback from experience
▫️ Many companies have deployed the core of their program and are now considering the audit and sustainability of their governance
▫️ For those that have initiated audit and control phases, the results are still too often underutilized
▫️Internal audit requires effective cooperation between compliance, audit and internal control

Understanding the complementarity between internal control and internal audit approaches (level 2 and level 3)

Implementing controls
▫️ Self-assessment, reperformance: which control method should be adopted to ensure sufficient probative value to evaluate the actual implementation of the most strategic procedures?
▫️ Empowering stakeholders and triggering continuous improvement
▫️ Adjusting the frequency of controls based on the risk level established by the risk mapping

How to effectively leverage test results
▫️ Upstream, define tolerance thresholds
▫️ Compare results year over year to track progress or raise the alarm if the situation deteriorates. And to adapt your control plan by reallocating resources to target priorities

THANK YOU to the 115 participants for their keen interest throughout this session! There were many questions!

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