The internal audit of management companies regulated in Luxembourg (both AIFM and UCITS)

This module is a component of our Internal audit curriculum, designed to assist internal auditors in their day-to-day work.

In an ever growing regulatory environment, it is essential for internal auditors of Luxembourgish management companies to understand all the areas to focus on and the underlying regulatory requirements, local expectations and market practices. This includes both business and IT considerations.

By the end of this course, participants will be able to obtain a comprehensive understanding of:

• the audit universe of a management company in Luxembourg;
• the key areas of focus for your internal audit reviews;
• the key risks to consider in the frame of your internal audit reviews;
• the internal audit methodology for the areas to be reviewed;
• the typical weaknesses or shortcomings observed on the market and ways to address them.

You will also be able to ask questions and exchange with the trainers in order to precisely address your areas of concern.

1. Brief reminder – Scope of CSSF circular 18/698
2. Internal audit requirements
3. Governance
4. AML and CTF
5. Remuneration policy
6. Risk management function
7. Compliance function
8. Oversight of delegates - Main functions
9. Oversight of delegates - Other functions: accounting, IT, RH

Possible specific session on IT, cloud and outsourcing

An attendance certificate will be sent to participants.

This training is coordinated by Alexandre Lambin (Partner - internal audit leader), Anthony Bianco (Partner) and Laurent Delbrouck (Senior Manager), who are part of the internal audit practice of PwC Luxembourg.

The training will be presented by experts in internal audit of asset management companies, both UCITS and AIFM.