Quarterly Compliance Assessment Audit Report

In this sample report, internal audit performed an assessment of compliance policies and procedures and the validation of the operational effectiveness of key activities and controls within those policies and procedures. The assessment includes the review and testing of policies and procedures related to anti-money laundering, whistleblowing, custody, insurance, and code of ethics.

In addition, utilizing the chief compliance officer’s (CCO) calendar of responsibilities as a guide, internal audit developed matrices that detailed key compliance activities and related validation plans. These matrices are reviewed by the CCO to validate the appropriateness of testing activities.