As a Licensee, you are required to monitor and supervise the activities of your Representatives. The traditional model to satisfy this obligation, is generally for licensees to arrange for client files of their Representatives to be reviewed, at least annually.
Fiduciam will help you with your monitoring and supervision requirements through the following activities:
- Representative Client File Reviews.
- Spot checks.
- Special investigations.
- Ad hoc reviews, as required.
We will work with your business to ensure the appropriate monitoring and supervision framework is implemented.
We will also work with your business to address and mitigate issues identified in the audit process. We can help you to determine whether issues are systemic, analyse the issues and identify and implement appropriate remedial action plans for the business and/or the Representative. We have significant experience in the identification and classification of breaches, assisting licensees to conduct thorough incident evaluation and, when required, collate the required information to prepare ASIC breach notifications.