Independent Evaluation of Compliance Programs
Although the viability of a compliance program may be gauged in different ways, one of the most effective means is to conduct an audit of the program. Independent evaluations of compliance programs are mandated by federal law and are among the most effective tools financial institutions can use to apply and modify their compliance policy.
Compliance Plus auditors bring to bear proprietary tools such as our automated transaction analysis software, CP System™, and a wealth of information and experience in the compliance field to render a comprehensive review. Our on-site examinations are thorough and provide our clients with a detailed report aimed at strengthening and, in some instances changing, internal policies and procedures. Additionally, the scope of our examinations varies from client to client to ensure that only relevant aspects of a compliance program are examined and analyzed.
Compliance Plus recognizes that our independent evaluations are relied upon not solely by our clients, but by related business partners, banks, regulators and others. As such our reviews are risk-based and highlight areas of potential vulnerability within a client’s operations.