Audit Management System

Annual Compliance Questionnaire

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SmartPros, a Kaplan Company | 914.829.4945 | www.kaplanfinancial.com/businesses

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Audit Management System

Learn More: michaelroche@smartpros.com | 914.829.4945 | www.kaplanfinancial.com/compliance

Look to SmartPros’ Audit Management Stystem for a robust, online audit platform that supports any size or type of financial services organization, from banks and broker dealers to investment advisors and more. This AMS currently manages branch office audits that cover over 12,000 locations, more than 25,000 advisors/reps, and is used daily by over 250 auditors and staff who oversee 12,000+ annual audits.

Key AMS Features:

• Scheduler interface with mapping tools for geo-route planning

• Configurable solution with workflows and roles set up around your processes

• Dashboard with alerts and clickable links to monitor each audit stage

• More efficient process for branch personnel to submit audit responses

• Automated remediation letters

• Comprehensive reporting documentation, including a full audit trail with date/time stamps

• High quality, responsive customer service from implementation and account management teams

AMS Covers Every Step In The Audit Process

- Audit Scheduling- Audit Interview- Deficiency Letter- Remediation- Audit Monitoring- Records Retention

Multiple Audit Types

Clients can use the AMS platform to conduct a broad array of audits:

• Branch-Office Inspections: Cycle exams per FINRA Rule 3110(c).

• Advisor Practice Reviews (APRs): One-on-one supervisory review of sales and business practices.

• Supervisory Control System Audits: FINRA Rule 3120 & 3130 testing and verification requirements.

• Business Continuity Plan Audits: FINRA Rule 4370

• Numerous Types of “For Cause” Audits

• Heightened Supervision Reviews

• Pre-Audit Surveys

Schedule audits through refined calendar management tools, including a map-based interface that enables managers and auditors to plan and finalize their route to each location.

Full reporting and tracking capabilities that allow managers and compliance personnel to follow each stage of the audit to closure.

Branch Search & Scheduling Audit Trail Tracking & Reporting

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Learn More: michaelroche@smartpros.com | 914.829.4945 | www.kaplanfinancial.com/compliance

Audit Management System Reporting

SmartPros’ Audit Management System (AMS) runs five (5) standard AMS reports and several custom ‘by request’ reports. AMS’s standard reports are generated in Excel format and provide users the ability to filter data and create many different types of ad hoc reports. SmartPros works closely with our customers during implementation to define your standard and custom report needs. Here is a list of SmartPros’ AMS reports:

Standard ReportsAudit List ReportThis report (20 to 30+ data fields are commonly tracked) will provide a summary of all branch audit data within the specified date ranges. The Audit List Report contains all of the important demographic data for each branch, including parties to the audit (branch manager, rep[s]/advisor[s]) and both the current and past auditor/examiner.

Audit Deficiency Summary ReportThis summary report (17 data fields tracked) will list all audits for the date-range selected. This report helps firms to sort branches/audits by the number of ‘found’ audit exceptions (i.e. deficiencies). Using the filtering tools, you can use this report to quickly sort and identify branches with the most and least number of deficiencies.

Audit Deficiency Detail ReportThis report (26 data fields tracked) will list the details of all deficiencies for selected audits. This report will display the question (full text) for any ‘found’ deficiency along with any remediation (full text) input by the auditor/examiner.

Audit Submitted Detail ReportThis report (17 data fields tracked) will list all audit questions (full text) and answers (e.g. Yes or No or text if allowed) in a selected audit, along with any associated remediation (full text) input by the auditor/examiner. This report will also show any repeat deficiencies and the specific number of times the exception occurred (e.g. 2xs or 5xs) thereby highlighting trends and risks in the branch. This report can be used by the firm’s Audit and/or Compliance Group to flag a branch for re-audit and potentially assign ‘heightened supervision’ status to specific rep/advisors therein.

Audit Status ReportThis expansive report (41 data fields tracked) will list the specific status (e.g. scheduled, open, closed, in remediation, response due, etc.) of each audit. With the sorting filters applied, this report can be used to sort branches by the number of deficiencies and thereby find branches with a higher risk profile. The Audit Status Report can also track the duration of audits (i.e. number of days from initiation to closure) and ‘aging’ of the remediation process (i.e. number of days from issuance of the remediation letter to final acceptance of required actions/responses).

Custom Reporting

Exam Work-Papers Data-Download Report (EWPDDR) This report is distributed via email with a link to the full zip-file folder. The EWPDDR folder includes all pertinent documents and forms associated with a particular branch exam. Contents will vary depending on the number of files uploaded for the requested audit. An EWPDDR will commonly be multiple megabytes in size and might store: 1. Branch profile 2. Full branch exam trail 3. Completed branch audit questionnaire(s) 4. Remediation letter 5. Remediation responses 6. Auditor comments 7. Any firm/auditor documents uploaded in association with the audit

Out of Office Report*As the report name implies, the Out of Office Report (OOR) can be used to identify all parties to an audit who are scheduled to be ‘out of the branch’ (office) between the date ranges specified. Report filters also allow a search to find OOR information for a particular AMS user.

*The Out of Office Report is only available for clients that have the Out of Office Management (OOM) functionality as part of the AMS solution offerings. Next »« Previous

Learn More: michaelroche@smartpros.com | 914.829.4945 | www.kaplanfinancial.com/compliance

Annual Compliance Questionnaire

As part of the SmartPros Compliance Suite of Solutions, the SmartPros’ online Annual Compliance Questionnaire (ACQ) platform quickly and efficiently delivers questionnaires to all covered persons in your firm. ACQ can convey the latest compliance policies, industry rules, and require respondents to update information that must be tracked and reported. SmartPros’ ACQ has templates, tools, and workflow to capture all responses and trigger alerts and e-notifications to all roles in your firm who may need to take follow-up action.

SmartPros’ ACQ covers every step in the survey and vetting process:

Assignments • Records Retention • Remediation Submission for Review • Survey Completion

Multiple Survey Types

Clients can use the ACQ platform to conduct a broad array of surveys:

Annual Compliance QuestionnaireVetting covered persons’ understanding of polices and updating reportable changes in circumstances.

Cyber-security SurveysReviewing comprehension and compliance with the firms’ hardware, software, and Net security protocols.

Communications with the Public SurveysVerifying covered persons’ understanding of advertising regulations and proper use of email, texts, websites, blogs, and social media.

Supervisory Control System SurveysUsed to test firm procedures and systems per FINRA Rule 3120.

Assign Questionnaires for review and follow-up

Review survey responses and take corrective actions

Supports iOS Mobile Devices!

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SmartPros, A Kaplan Company12 Skyline Drive

Hawthorne, NY 10532www.kaplanfinancial.com/businesses | 914.829.4945

MKT-006648

SmartPros offers a full suite of compliance solutions to meet

your enterprise needs. From AMS to ACQ, our robust platforms

will help you stay compliant.

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