Free
Level:
Auditing Professionals
Sub-level:
FICA
Lecturer:
Lynette Badenhorst
Duration:
120 Minutes
Additionals:
Certificate
Lesson Outline
When developing and implementing a Risk Management Compliance Programme (RMCP) in line with FICA requirements, one critical aspect is designing a robust risk rating methodology. The Financial Intelligence Centre (FIC) has issued clear guidelines on how such a methodology should be implemented.
As part of the RMCP toolkits we've made available, I've developed a comprehensive risk rating methodology tailored for accountable institutions, specifically those registered as TCSPs, legal practitioners, property practitioners, and high-value goods dealers. Each of these industries must consider the following risk categories:
- Business-Level Risk
- Product and Services Risk
- Client/Entity Risk.
I will walk you through the risk rating methodology we've designed. It's crucial to follow this methodology step by step to ensure compliance with the legislation.
There will also be ample time after the session to address any questions you may have.