Payment institutions and electronic money institutions (“Payment Institutions”) providing payment services and issuing electronic money pursuant to Act No. 284/2009 Coll., on Payment Systems shall ensure a continuous performance of internal control - compliance and internal audit in the company.

COMPLY offers external compliance and internal audit services to Payment Institutions operating in the Czech Republic.

COMPLIANCE

The service includes the following activities: 

• Creation and continuous revision of internal regulations of the Payment Institution (ensuring compliance with the legal regulations and opinions of ČNB)
• Continuous internal control of compliance with legal obligations when providing payment services, and the management of governance and control systems of the Payment Institution
• Training of the Payment Institution’s employees
• Coordination of communication with the ČNB (requests, state control, registration procedures, etc.)
• Coordination of complaints and clients’ claims
• Consultation and advice to the Payment Institution’s employees
• Communicating legislative changes relevant to the activity of a Payment Institution
• Coordination of measures to eliminate money laundering and terrorism financing (AML)

 INTERNAL AUDIT

The service includes the following activities: 

• Preparation of an annual internal audit plan
• Preparation of a medium-term internal audit plan
• Performance of individual audits in accordance with an annual internal audit plan, writing reports about the audits performed
• Preparation of a Payment Institution’s risk analysis
• Continuous monitoring and control of the remedial measures imposed on the basis of the internal audit findings
• Preparation of the final annual internal audit report, including the evaluation of the functionality and effectiveness of the Payment Institution’s management and control system
• Informing the Payment Institution’s management of the findings