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Financial Sector Assessment Program (FSAP) Consultancy

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• overview;
• service offering;
• approach
• benefits
• next steps

Overview

FSAP audits are undertaken by the IMP and the World Bank, supported by experts from national agencies and standard-setting bodies, these assessments seek to examine the:

• strengths and vulnerabilities of a country's financial system;
• determine if sources of risk are being managed;
• ascertain developmental needs;
• help develop policy responses;
• prioritize technical assistance needs.

Service Offering

BCRM offers two main services for FSAP:

• 'mock audits;
• remediation.

By taking a proactive approach to the FSAP audit, BCRM helps clients achieve the best possible outcome, with very tangible benefits. This ranges from guiding the client through 'dry run' audits to ascertain preparedness to providing gap analysis in key areas and remediation plans prior to the 'live' audit. BCRM also provides a world-class audit tracking and compliance tool to evidence work done and to assess compliance internally against the requirements of FSAP.

Approach

We approach each project in the same manner:

• definition of the scope of the project;
• define and agree the legislation and regulation applicable;
• understand your business;
• undertake a risk assessment;
• perform relevant audits;
• agree remedial work to be performed and delivery format;
• produce remedial work in association with your employees;
• implement awareness training;
• ad hoc advice as required;

Benefits

The overall outcome for the client is enhanced confidence in preparing for the audit based on empirical evidence, improved audit outcomes and material enhancement to the sovereign nation reputation in global financial markets.

Next Steps

• BCRM has a number of other service offering, these are listed here;
• BCRM is committed to providing a consistently high value service to our Clients;
• Sian Watson and David Lilburn Watson, who remain personally 'hands-on' throughout the process, manage this process.
• to understand how the BCRM suite of offerings can be used to transform your business, please contact us
• we look forward to discussing your specific requirements, at your convenience;
• whatever other type of consultancy you require, we can possibly offer a free Health Check.