Compliance monitoring programme
The scheduled testing a compliance function runs to check that the firm’s policies are being followed in practice.
A monitoring programme sets out what will be tested, how often and by whom, usually weighted by risk. Each test leaves evidence: the sample, the result, any breach and the fix.
Boards and supervisors read the programme’s results as the clearest sign of whether the compliance function is working.
Where the rules use it.
- FCA Handbook — SYSC (Senior Management Arrangements, Systems and Controls)Governance, compliance, risk control, internal audit, record keeping and financial crime systems and controls.United Kingdom · 6 controls
- GFSC Fiduciary Rules and GuidanceConduct, client asset, record keeping and resourcing rules for fiduciary licensees.Guernsey · 5 controls
- ISO 37301 — Compliance management systemsThe certifiable standard for a compliance management system across all obligations.Global · 6 controls