2nd December 2011, 06:39 PM
The system does include audit.
When an organisation applies to be an RO it submits a suite of policies, manuals and other corporate info which is then checked by the RO committee. If accepted after a visit by a monitoring team drawn from IfA, the committee and otehr ROs, it is added to the register (the main purpose of monitoring is to check that the organisation's policies are being followed). Each year the RO has to submit a return providing information about its staffing, activities etc., and this is subject to a beachmarking by the RO committee to check whether any concerns are flagged up. If so this can be explored or a monitring visit is triggered. Every RO is monitored every three years or so.
So Jack, yes the audit element is there, even if not mnetioned in the specific links.
To pick up on another point, someone suggested that IfA would not want to remove RO status because it relies on the money they pay. The decisions of the Ro committee (and the monitoring panels) are separate from those of IfA staff or the IfA council, and the RO scheme contributes only small proportion of IfA income (most coming from members' substrciptions).
When an organisation applies to be an RO it submits a suite of policies, manuals and other corporate info which is then checked by the RO committee. If accepted after a visit by a monitoring team drawn from IfA, the committee and otehr ROs, it is added to the register (the main purpose of monitoring is to check that the organisation's policies are being followed). Each year the RO has to submit a return providing information about its staffing, activities etc., and this is subject to a beachmarking by the RO committee to check whether any concerns are flagged up. If so this can be explored or a monitring visit is triggered. Every RO is monitored every three years or so.
So Jack, yes the audit element is there, even if not mnetioned in the specific links.
To pick up on another point, someone suggested that IfA would not want to remove RO status because it relies on the money they pay. The decisions of the Ro committee (and the monitoring panels) are separate from those of IfA staff or the IfA council, and the RO scheme contributes only small proportion of IfA income (most coming from members' substrciptions).