Breakout Session: Leveraging technology to simplify compliance

The presentation will outline the current compliance obligations common to PTEs in New Zealand. We will then focus on the areas that QED has identified as either taking up significant amounts of internal resources for its clients or where the data is not recorded with sufficient detail or frequency to fully meet the regulatory requirements. We will then outline how a typical PTE might have a few key people using a manual system to deal with compliance and show the risks in this approach, especially in relation to capability building and business continuity. This will then be analysed to show the possible financial impact of the compliance regime on PTEs under normal and stressed scenarios, highlighting some of the risks that PTEs may be unaware of. We will look at how technology can be used to - Simplify manual processes - Reduce risk - Lower costs; and - Improve insights and process improvement Finally, we talk about our case study with Professional IQ College and how we brought QED’s expertise to bear to implement a comprehensive, digitised Compliance Assurance Programme (CAP), and what this meant for PIQ and how this can benefit other PTEs.