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.