Quality assure your debt advice service to help achieve regulatory and quality compliance
The Institute of Money Advisers’ independent quality assurance service offers:
- an in-depth review of your service’s debt advice cases
- a comprehensive report highlighting best practice and areas for improvement
- guidance to help you meet Financial Conduct Authority (FCA) and Money and Pensions Service (MaPS) requirements
- follow-up support to help improve client outcomes
Why have an independent quality audit?
All organisations authorised by the FCA to give debt advice must comply with its Principles for Businesses and Consumer Credit Sourcebook rules.
MaPS funded organisations will also need to demonstrate compliance with its quality requirements and prepare for peer assessment of advice cases.
Risks of non-compliance with FCA and MaPS requirements
Failing to meet either FCA or MaPS requirements may lead to:
- increased supervision by both organisations
- your organisation’s resources focused on remediation instead of service delivery
- enforcement by the FCA
- withdrawal of an organisation’s FCA authorisation to give debt advice
Arrange an IMA quality assurance audit
For more information contact us at firstname.lastname@example.org.