Our expert team has significant first-hand experience implementing accountability frameworks
The origins and the basis of the IAF and SEAR proposals and what will soon become legal and regulatory requirements come from the following:
- Central Bank of Ireland’s July 2018 report, Behaviour and Culture of the Irish Retail Bank; and
- Department of Finance’s publication in July 2021 of the General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021 (the Bill).
Much has been written about the key impacts the proposals will have on a firm’s governance structures, fitness and probity systems and controls, employees and consumers.
A senior and experienced Irish based SEAR and IAF team
While some professional service firms will be able to make their accountability experts available from within their global network to assist you in your preparations for the IAF and SEAR, at Mazars, our Irish partner and senior management team are experts. They have significant first-hand experience in:
- Implementing accountability frameworks for UK financial services (FS) regulated firms.
- Performing independent assurance reviews focused on assessing the design and operating effectiveness of governance arrangements and accountability frameworks within the UK FS regulated firms.
- Assisting Irish FS regulated firms in enhancing their fitness and probity and governance and oversight arrangements.
What does this mean for you?
When you engage with Mazars, you engage a partner-led and senior management team that has done this before. We know our methodology, implementation project plans, key IAF/SEAR deliverables and our assurance opinions are fully aligned with good practice and fit for purpose.
Mazars and the Compliance Institute surveyed the compliance institute members to measure the level of preparedness, views and expectations of financial services professionals and their preparedness for the impending for the IAF and SEAR.
Download the survey results
The below case studies provide an overview of the accountability framework engagements our Irish based partner and senior management team have previously delivered.