Compliance Documentation

Compliance documentation is a key component of any business due diligence system and is the system by which you demonstrate that due diligence is in place.  As a minimum compliance documentation should consist of:

• a compliance strategy detailing how compliance will be controlled within the business including individual accountability
• a compliance manual detailing how compliance is operated within the business
• a training manual
• training assessments and records
• assessment and audits of contractors including outsourced service providers, lead generators and data providers
• complaint handling procedures
• complaint records
• documented programme of internal audit and monitoring
• internal audit records
• operational guidance for employees
• template letters and client documentation
• documented programme of review for compliance documentation

Depending on the compliance risks within your business it may be necessary for you to implement further documentation; ultimately the extent of the compliance documentation needed is determined by the activities of the business, the size of the business operation, and the risk of non-compliances occurring.

If you need help in preparing compliance documentation or determining what systems you need to put in place please visit www.scottrobertllp.com for professional support or contact Scott Robert LLP on 0844 736 5327.