Compliance Audit and Testing Services
InnReg reviews and tests selected compliance policies, procedures, and controls against an agreed scope and review period. We examine supporting evidence, document exceptions, and provide findings and remediation priorities to help management evaluate how the program is designed and operating.
Since 2013
100+ fintechs supported
SOC 2® Type 2 Report
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The Basics
When You Need Evidence About How Your Controls Are Working
A defined review or testing engagement helps firms examine particular compliance risks, meet applicable review obligations, or evaluate controls after a significant change. The work is structured around the activities being tested, the records available, and the decisions the findings need to support. Required qualifications, reporting, and independence are considered when establishing the assignment.
Planning an annual, periodic, or targeted compliance review
Examining controls in response to identified risks, complaints, or regulatory findings
Assessing how selected controls operate across products, systems, or service providers
Testing whether agreed remediation has addressed previously identified issues
The Basics
What InnReg Reviews and Tests
We develop the review scope around your business activities, regulatory obligations, previous findings, and areas of concern. The engagement identifies the control areas, review period, evidence, testing approach, and reporting deliverables. The work can cover a broader program review or a targeted examination of selected controls.
Program and Supervisory Control Reviews
We review and test selected elements of the compliance or supervisory program, including governance, procedures, monitoring, escalation, and records. Where expressly agreed, the work can support applicable annual program reviews, supervisory control testing, or related management reporting.
Targeted Compliance Testing
We test specific areas such as marketing, employee compliance, fees and billing, customer onboarding, lending disclosures, servicing, or recordkeeping. The selection reflects your activities and risks. Specialized work, including statistical fair-lending analysis or technical security testing, requires an expressly defined scope and appropriate expertise.
AML and Financial Crime Reviews
For firms with applicable obligations, we review selected financial-crime controls and supporting evidence, such as customer identification, due diligence, monitoring, escalation, and reporting processes. Where independent AML testing is required, reviewer eligibility and independence must be established for that assignment.
Findings and Remediation Follow Up
We report the work performed, evidence examined, significant exceptions, and recommended actions. We discuss findings with relevant personnel and identify remediation priorities. Follow-up testing can evaluate specified corrective actions when included in the engagement; implementation responsibilities are defined separately.
Deliverables can include a review plan, testing results, a written findings report, prioritized recommendations, and agreed retesting results. Conclusions reflect the scope, period, samples, and information examined; the report identifies material limitations.
Our Scope
How the Engagement Works
01
Define the Review and Testing Plan
We agree the objectives, applicable criteria, control areas, period, evidence requests, and reporting needs. We also assess reviewer qualifications, potential conflicts, and any required independence.
02
Examine Records and Perform Testing
We review documents, interview relevant personnel, walk through processes, and test selected samples or controls. The work considers how procedures are designed and the evidence of their implementation.
03
Discuss and Report Findings
We discuss preliminary findings, consider relevant supporting information, and prepare the agreed report. Findings identify the issue, its significance, and recommended corrective action within the review scope.
04
Establish Remediation Priorities
We review recommended actions with management and document proposed priorities and ownership. If follow-up testing is included, we agree the evidence and timing needed to evaluate the specified corrective actions.
Our Team
Meet the Team Supporting Compliance Reviews and Testing
Why InnReg
Why Work With InnReg on Compliance Audit and Testing?
Reviews Informed by Operating Experience
InnReg’s work with financial services programs informs our understanding of how controls are documented and performed. We consider the products, systems, personnel, and third parties involved in the activity under review.
A Scope Based on Relevant Risks
We consider the firm’s activities, previous findings, business changes, and stated concerns when defining the assignment. This helps focus the review on controls and evidence relevant to the agreed objectives.
Findings Supported by Evidence
We connect findings to the records, samples, interviews, or process observations examined. The report describes what was reviewed and the limitations affecting the conclusions, giving management a basis for evaluating the results.
Attention to Reviewer Independence
We assess the relationship between the reviewer and the functions being tested, including any prior or ongoing InnReg work. An assignment is described as independent only when the applicable requirements and delivery arrangements support that description.
Recommendations Connected to the Issue
Recommendations address the identified control weakness and its operational context. We distinguish policy, process, system, and responsibility changes so management can evaluate what corrective work is needed and who should own it.
Coordination Through Reporting
A project lead organizes evidence requests, stakeholder discussions, and open questions. We review preliminary observations with relevant personnel and incorporate supported factual corrections before completing the agreed findings report.
FAQ
Compliance Audit and Testing FAQs
What does a compliance audit cover?
Can the work satisfy an annual or required compliance review?
Can InnReg test a program it also helps manage?
How is testing different from a compliance gap assessment?
Contact Us
Plan Your Next Compliance Review
Preparing for a required review or looking to evaluate specific compliance controls? Submit the form to schedule a free consultation. We’ll discuss your review objectives, applicable requirements, and timing to define an appropriate scope for audit or testing support.
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