How to assess the effectiveness of your Individual Accountability Framework (IAF)

Ensure your firm is prepared for SEAR, Conduct Standards, and the new Fitness and Probity rules. Our step-by-step guide shows internal audit, risk and compliance teams how to test whether their IAF is truly effective before the regulator does.

What’s inside the guide

• A quick recap of the four IAF modules and key implementation dates.
• An audit planning checklist covering SEAR, Conduct Standards and Fitness & Probity registers is needed.
• Three-phase effectiveness review: in-scope requirements, design testing and operating testing.
• Common audit observations we’re already seeing in the market and how to fix them fast.

Who should read it?

• Heads of Internal Audit and Risk.
• Compliance Officers & PCF role-holders.
• Non-Executive Directors seeking assurance.