31386 paragraphs found
The results of monitoring activities, results of external inspections and other relevant information (e.g., network monitoring activities or complaints and allegations) may reveal information about the effectiveness of the monitoring and remediation …
Factors the firm may consider in evaluating the severity and pervasiveness of an identified deficiency include: The nature of the identified deficiency, including the aspect of the firm’s system of quality management to which the deficiency relates, and …
The severity and pervasiveness of identified deficiencies affects the evaluation of the system of quality management that is undertaken by the individual(s) assigned ultimate responsibility and accountability for the system of quality …
The objective of investigating the root cause(s) of identified deficiencies is to understand the underlying circumstances that caused the deficiencies to enable the firm to: Evaluate the severity and pervasiveness of the identified deficiency; and …
The nature, timing and extent of the procedures undertaken to understand the root cause(s) of an identified deficiency may also be affected by the nature and circumstances of the firm, such as: The complexity and operating characteristics of the firm. The …
In investigating the root cause(s) of identified deficiencies, the firm may consider why deficiencies did not arise in other circumstances that are of a similar nature to the matter to which the identified deficiency relates. Such information may also be …
Identifying a root cause(s) that is appropriately specific may support the firm’s process for remediating identified deficiencies. Example of identifying a root cause(s) that is appropriately specific The firm may identify that engagement teams …
In addition to investigating the root cause(s) of identified deficiencies, the firm may also investigate the root cause(s) of positive outcomes as doing so may reveal opportunities for the firm to improve, or further enhance, the system of quality …