PAST EVENTS:
GENEVA, TUESDAY 19 NOVEMBER 2019, HOTEL LE RICHEMOND, 9.00-12.30
ZURICH, WEDNESDAY 20 NOVEMBER 2019, ZUNFTHAUS ZUR WAAG, 9.00-12.30
Where should FI’s start in their assessment of the problems? What can FIs do immediately before the Swiss Federal Tax Administration audit: amend the AML-CRS manual, organize the risk management governance and internal controls, test CRS report assurance and staff knowledge. This workshop will provide practical guidance on what must be done in the pre- audit period.
AGENDA
What does the OECD expect relatively to CRS audits?
A quick overview of the OECD Global Forum Terms of Reference
Jurisdiction administrative framework
Effective implementation of CRS
Legislative framework to prevent circumvention of CRS
Verification of Financial Institution compliance, CRS Audit Assessments
Preparing for your first CRS Audit
Company level assessment
Client level assessment
Staff level assessment
You must have a compliant Process Management Framework:
this is how you can complete and improve your CRS Manual
CRS Manual vs. AML Manual Integration, which is better?
AML Process and Procedure Integration
CRS Due Diligence Processes and Procedures Integration
Required Financial Account Segmentation guidelines
“Change in Circumstance” essential guidelines
"Reasonableness Test” essential guidelines
“Account Closure” essential guidelines
3rd Party Provider Governance and Supervision essential guidelines
You must do a Client File Audit Assessment:
here are the main possible failures and the possible solutions
Client Reporting lifecycle: Identification; Classification; Monitoring; Reporting; Closure
Key Implementation Failures: Identification | Classification
Key Monitoring Failures: Monitoring | Reporting
Key Account Closure Failures: Closure
What are the Top Audit Failures
You must have in place a serious Risk Management Framework:
here are some of the main risk management issues that you must address
Risk Management Governance
Anti-Avoidance Guidelines: Best Practice Guidance
Specific Risk Management: “Change in Circumstance”
Specific Risk Management: “Self Certificate Residence”
Specific Risk Management: “Account Closure”
Account Type Risk Rating Framework
Staff Competency | Training | Assessment
CRS Expert | Audit Assessment Software
Client File Reporting Outcome Assurance Testing
Staff Knowledge Resource and Competency Testing
Key Audit Competencies:
Full | Accurate | Up to Date | CRS Reports
Staff Competency Assessment
Robust Operational Framework (Risk and Process Management)
Statutory Document Management
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