Financial Adviser Act (FAA) Internal Audit Services in Singapore
Our Focus
For licensed and exempt financial advisers in Singapore, our Financial Adviser Act internal audit reviews governance, regulatory compliance, and key controls against applicable Monetary Authority of Singapore (MAS) requirements. Coverage includes advisory processes, customer suitability, conflicts of interest, AML/CFT, third-party arrangements, and, where relevant, independent sales audit and balanced scorecard reviews.
Key Responsibilities of a Financial Adviser
01Client Advisory & Suitability
Providing advice that is appropriate to the client's circumstances, needs, objectives and risk considerations.
02Product & Recommendation Management
Ensuring products and recommendations are appropriately considered, documented and supported by relevant information.
03AML/CFT & Regulatory Compliance
Maintaining appropriate measures to manage financial crime risks and meet applicable regulatory requirements.
04Fair Dealing & Conflicts of Interest
Managing conflicts and maintaining fair dealing practices in interactions with clients and other stakeholders.
05Representative & Third-Party Oversight
Maintaining appropriate oversight of representatives, introducers and other relevant third-party relationships, where applicable.
Internal audit provides management and the Board with an objective view of the effectiveness of the organisation's processes, controls and risk management arrangements.
A Practical Approach to Internal Audit
Let's explore how our internal audit services can support your organisation.
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