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Audit Scope and File Identification

Client file identifier matches audit scope critical (required)

Audit period and review date documented

File contains all records expected for the review period critical (required)

Yes No N/A

High-risk account or transaction flags identified

Note (optional)

Inspector notes on file scope limitations

Consumer Credit Disclosures and Suitability Evidence

Required consumer credit disclosures present and signed or acknowledged critical (required)

Yes No N/A

Credit terms, fees, and material conditions documented consistently critical (required)

Yes No N/A

Evidence supports the product or service recommendation critical (required)

Exceptions or deviations from standard credit process documented

Yes No N/A

Supporting calculations or affordability notes retained

Yes No N/A

Best Interests Duty and Advice Documentation

Client needs assessment completed critical (required)

Yes No N/A

Recommendation rationale documented and linked to client objectives critical (required)

Alternative products or options considered where required

Yes No N/A

Conflict of interest disclosures present where applicable critical (required)

Yes No N/A

Client consent or acknowledgement retained

Yes No N/A

Privacy, Confidentiality, and Access Controls

Sensitive personal information is stored in approved locations only critical (required)

Yes No N/A

Access to the file is limited to authorized personnel critical (required)

Yes No N/A

Redaction or masking applied where required

Yes No N/A

Privacy notices or consent records retained when applicable

Yes No N/A

No unauthorized personal data appears in shared or exported copies critical (required)

Yes No N/A

Recordkeeping, Audit Trail, and Retention

Documents are dated, versioned, and legible critical (required)

Yes No N/A

Audit trail shows who created, reviewed, or amended key records critical (required)

Yes No N/A

Retention period requirement identified and met critical (required)

Yes No N/A

Missing, duplicate, or conflicting records identified

Yes No N/A

Audit Queries, Deficiencies, and Remediation

Deficiencies or non-conformances recorded critical (required)

Yes No N/A

Corrective action owner and due date assigned

Remediation status updated

Note (optional)

Inspector sign-off completed critical (required)

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Run: Broker Compliance File Audit Procedure

Audit Scope and File Identification

Consumer Credit Disclosures and Suitability Evidence

Best Interests Duty and Advice Documentation

Privacy, Confidentiality, and Access Controls

Recordkeeping, Audit Trail, and Retention

Audit Queries, Deficiencies, and Remediation

Get your results