Www.meridianbs.co.uk THE RI AUDIT AND COMPLIANCE CONFERENCE Remaining compliant whilst outsourcing...

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THE RI AUDIT AND COMPLIANCE CONFERENCE

Remaining compliant whilst outsourcing

Jeanette BarrowcliffeMeridian Business Support

• Outsourcing

• Compliance

• Meridian’s Experience

• Summary

Contents

Outsourcing

Same as delegating

...but

...some control is lost

...it relates to external processes

...you can’t outsource

responsibility

Resource Quality

Technology

Expertise Legislation

Why Outsource?

What about…

Control

Efficiencies TrustAccountability

Responsibility

• Start with the end in mind

Selection

• See a number of providers

• Get to know them

• Agree a price that gives value

• Agree the SLA & contractual terms

Recent ACCA Study - Shared Service & Outsourcing

• 500 CFOs surveyed around the world

• 28% not yet outsourced some finance operations

• For those that have, shared service/hybrid models are preferred

• Success mainly for transactional activities

• 60% keep the higher value activities in-house

Compliance

External Internal

Remaining compliant

• Continually review, assess, visit & inspect

• Shared values

• Strong partnership relationship

• Mutually agreed SLA

• Mutually agreed contractual terms

MBS• Expenses processing• Payroll & billing• Umbrella services• Subcontractor services• Contract reviews• Mobile phone management• Telephony services• Virtual server hosting• IT support• Website hosting

• Debt Collection• PR• Software hosting• Network management• Insurance brokerage• Bid management• Off-site storage• Rate assessments• Legal advice• Training

Summary

• Know what you want and why

• Find a partner with the same values

• Build a strong relationship

• Continually re-evaluate and inspect the service

• Do not expect to outsource your own responsibility

Any questions?

Www.meridianbs.co.uk THE RI AUDIT AND COMPLIANCE CONFERENCE Remaining compliant whilst outsourcing...

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