Audit & Monitoring Policy + Templates

This Audit & Monitoring Policy + Templates document provides a complete FCA-aligned framework for assessing, testing, and evidencing compliance across regulated operations. Built around SYSC 6.1, the Senior Managers & Certification Regime (SMCR), Consumer Duty (PRIN 2A), and the FCA’s three-lines-of-defence model, it ensures firms can detect risks early, prevent breaches, and demonstrate robust oversight to regulators.

It outlines how to develop a risk-based compliance monitoring plan, conduct thematic reviews, and conduct independent internal audits while maintaining clear separation of duties. The policy includes structured methodologies for call reviews, sampling, outcomes-testing, and third-party oversight under SYSC 8. It also integrates breach-escalation workflows under SUP 15 and Consumer Duty harm-testing principles.

Supporting SMCR accountability, Board-level reporting, data quality assurance, and evidence retention requirements, this policy strengthens governance, resilience, and customer protection across your firm.

Includes:

• Governance and Responsibilities

• Risk Assessment and Audit Universe

• Separation of Compliance Monitoring and Internal Audit

• The Compliance Monitoring Plan

• Consumer Duty Outcomes Monitoring

• Operational Resilience Testing

• Financial Promotions Surveillance

• Outsourcing and Third-Party Oversight (SYSC 8)

• Vulnerable Customers Testing

• Training and Competence Supervision

• Business Continuity Planning

• Cyber Resilience Drills

• Client Assets Integration

• Thematic Reviews

• Horizon Scanning

• Breach Detection and Management

• Auditor Independence

• Assessment Templates

Plus, much more!