13.4 Regulatory reporting

Question 1

Where an organisation is required to provide reports to regulators, it is exposed to which three risk events?

Answer 1

1 Missed reporting deadlines
2 Incomplete reports
3 Inaccurate reports

Question 2

List three functions commonly involved in regulatory reporting.

Answer 2

Company secretary
Compliance
Finance
Health and safety
IT
Risk

Question 3

What is the company secretary’s role in regulatory reporting?

Answer 3

Annual returns
Director changes
Articles of association
Others such as data protection

Question 4

What is the compliance function’s role in regulatory reporting?

Answer 4

Responsibility for producing reports

Overseeing regulatory reporting of other functions

Question 5

What is the finance function’s role in regulatory reporting?

Answer 5

Producing financial reports

Question 6

What is the health and safety function’s role in regulatory reporting?

Answer 6

Health and safety reporting under RIDDOR etc.

Question 7

What is the IT function’s role in regulatory reporting?

Answer 7

Reporting IT security breaches

Question 8

What is the risk function’s role in regulatory reporting?

Answer 8

Producing any reports with a risk element, such as prudential regulation.

Question 9

What is the internal audit function’s role in regulatory reporting?

Answer 9

Reviewing other’s processes for reporting.