To create a new Control Plan, edit it or sign it, go to the Home page and look for the Control Plan feature.
Once there, click on an existing Control Plan to edit it or sign it.
To create a new Control Plan, follow the next steps:
- Click the button ‘NEW CONTROL PLAN’. This will open a new button with the configuration settings
- Fill in the form according to your firm’s needs
- Choose the report template
- Plan for Year Ending
- Set up questions for the Control Plan. These are dependent on the template being used, but typically they are:
- Type of Firm
- Prudential Category
- Type of Client
- Conditions
- Has the Firm been authorised by the FCA for more than 12 months?
- Has the Firm carried out any regulated activities since authorisation?
- Click ‘CREATE’
NOTE: Fields in red are required.
Once you configure your Control Plan, a new page will open on the ‘PLAN’ tab.
If you navigate to the ‘SETTINGS’ tab, you will be able to configure the number of signatures needed to activate the Plan, and who can sign.
Once that’s done, navigate to the ‘PLAN’ tab and:
- Draw up your annual control plan
- Choose your themes
- Set their frequencies (specify the month(s) when you plan to assess)
- Define their gross risks
- Set their target dates
TIP: You can bulk select for easier editing of several themes
Once your plan has been set up and configured to your needs, save it and submit it for review.
Once enough signatures are collected, the Control Plan becomes active.
The Control plan has four stages:
- Draft
- Can edit
- Can submit the Control Plan into the "In Review" state, which the nominated signatories
- In Review
- Cannot edit
- Can be signed by the chosen signatories. Once enough signatures are collected, it goes into "Active" state
- Can be reverted back to "Draft" state
- Active
- Cannot edit
- Cannot go back to "Draft" or "In Review"
- Reports can be created using the Control Plan
- Cannot delete, but can deactivate into the "Inactive" state (which then can be deleted)
- Inactive
- Cannot edit
- Cannot be used by reports
- Can be deleted
- Can be duplicated to create a new Control Plan
You can then download a SCHEDULE of the plan, which will automatically update over time.
The PROGRESS REPORT includes percentages and colour coding to highlight risk levels, completion status, and the general conclusion for each topic, providing a clearer overview of the monitoring programme for management.
NOTE: Control Plans are valid for 1 year and require annual sign-off. This is to prevent them from rolling over automatically and becoming out of date as a result.
History Tab
The ‘HISTORY’ tab contains the previous (historical) versions of the downloadable PDFs. The latest PDF version of the Control Plan is available in the ‘PLAN’ tab.
