Compliance Testing – What to Test?

Specific tests to consider as part of your plan:

1.  Compare IPS targets to current client allocations – are they in line?

2.  Review client holdings – are they consistent with any client trading restrictions/objectives?

3.  Were block trades allocated consistent with policy?

4.  Review fees – are they consistent with the client agreement?

With quarterly reporting in full swing – this should give you some tests to work on right now.  Important to-do as part of this process – DOCUMENT.  Whatever you do, document it.  If it isn’t documented, then you didn’t really do it.



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