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  • INDI Part S1.6 INDI Part S1.6 Finance function competencies

    Note

    The level of an individual's competencies must be commensurate to the nature and complexity of his or her role in the firm and the regulated activity or activities that the firm conducts (see rule 3.1.3 (4)).

    Derived from QFCRA RM/2014-5 (as from 1st January 2015)

    • INDI Division S1.6.A Skills

      S1.6.1 Work effectively in or with accountancy and finance to ensure that the firm complies with the Regulatory Authority's prudential requirements
      S1.6.2 Display high standards of professional ethics in accountancy and finance
      S1.6.3 Ensure that the firm maintains accounting records, financial accounts and statements and auditors' reports to the standards, and for the periods, required
      S1.6.4 Ensure that the firm has its accounts and financial statements examined, reported, audited and filed in a timely manner and in accordance with applicable standards
      S1.6.5 Review accounting systems
      S1.6.6 Implement external audit procedures
      Derived from QFCRA RM/2014-5 (as from 1st January 2015)

    • INDI Division S1.6.B Knowledge

      S1.6.21 A recognised finance function professional qualification, or any other qualification that the firm is satisfied is appropriate for the role
      S1.6.22 Membership of an appropriate professional body, unless the firm is satisfied that membership of such a body is not required
      Note 1 In considering a qualification for clause S1.6.21 or clause S1.6.22, qualifications that are recognised as appropriate for the role by another regulator may be taken into account. See rule 3.1.4 (3).

      Note 2 The firm must record and retain its assessment and any supporting evidence (see rule 3.1.4 (4)).

      Derived from QFCRA RM/2014-5 (as from 1st January 2015)

    • INDI Division S1.6.C Experience and other elements

      S1.6.31 Appropriate level of experience and seniority for the role
      Derived from QFCRA RM/2014-5 (as from 1st January 2015)