Central Bank of Ireland’s Post

This publication provides further transparency to applicant firms on the authorisation process and sets out how the Central Bank discharge and continue to refine their authorisation mandate by: • Providing information on their authorisation framework and risk appetite; • Explaining their priorities and expectations of applicant firms; • Providing insight into the operation of the F&P regime; and • Outlining the key challenges that they see for firms seeking authorisation. To find out more see: https://lnkd.in/eFgxKqX9 They have also published their Open & Engaged Charter which sets out their commitment to effective stakeholder engagement. To find out more see: https://lnkd.in/dZtcwYF5 Both very welcome publications. #RegulatoryCompliance #Transparency #Engagement

🤝Keep your procedures relevant and up-to-date! Building trust between the management and the operations teams is essential for all organizations. When processes exist solely for compliance, can management trust operations to follow them? Likewise, can operations trust management if procedures don't make sense for the operation? #fringeflow #opencommunication #procedures #checklist

When was the last time you updated your procedures and who decided they needed to be updated? Keeping operational procedures relevant can be difficult. Often there is the operational perspective and the office perspective and ownership isn’t clearly defined. Making changes or suggestions should be easy!

Detecting Compliance Issues Periodic Audits: -Conduct regular record audits to evaluate education effectiveness and identify potential overpayments. -ACOs and MSOs, with their diverse independent providers and varying documentation methods, face unique auditing challenges. Ensure access to records and proper contracting clauses allowing for periodic audit reviews. Third-Party Review: Consider third-party reviews to assess compliance and address identified issues. A reliable partner will not only identify missing opportunities but also highlight unsubstantiated codes that may result in overpayments. Learn more at https://lnkd.in/gCB9SMXj

The 3 golden rules of Contract Claims Management: 1. Know your contract - Before even bidding on a job, ensure the contract terms are clear. - Be aware of the "grey areas" and what you're agreeing to. 2. Keep records - Document everything. - Keep a record of all correspondence and changes made. 3. Communicate effectively - Don't wait until the end of the project to discuss potential issues. - Be proactive and address concerns as soon as they arise. Remember that disputes can be costly and time-consuming. By knowing your contract, keeping clear records, and communicating effectively, you can avoid disputes and maximize your returns on investment. Follow these golden rules and watch your profits soar. To learn the trade secrets, click to register FREE: https://bit.ly/3UmkW5E

Internal control is a process, effected by an entity's board of directors, management and other personnel, designed to provide reasonable assurance: That information is reliable, accurate and timely. Of compliance with applicable laws, regulations, contracts, policies and procedures.

Internal control is a process, effected by an entity's board of directors, management and other personnel, designed to provide reasonable assurance: That information is reliable, accurate and timely. Of compliance with applicable laws, regulations, contracts, policies and procedures.

Internal control is a process, effected by an entity's board of directors, management and other personnel, designed to provide reasonable assurance: That information is reliable, accurate and timely. Of compliance with applicable laws, regulations, contracts, policies and procedures.

Smart Procedures and Policies, once they are in place then Audit

The documentation hierarchical structure helps in organizing compliance documents. This framework allows companies to identify the types of documentation and where to store them.