NEWS...
Focusing on continuous improvement
The DBSG is prepraring to launch its new member audit initiative – known as the Continuous Improvement Programme (CIP) – at the upcoming CSA/DBSG Annual Conference on 7th-8th September 2011.
The new programme will establish definitive compliance standards, which all members will be expected to adhere to – and audited against.
Leigh Berkley, DBSG Chairman, explained: "The primary objective is to tangibly raise the compliance standards of the sector and make it clear, as an industry, the quality standards we expect.
"Setting standards is only one half of the equation. The other is having a robust procedure to measure compliance, and to this end PricewaterhouseCoopers has been appointed to assist in the assessment of debt buyers and provide a thorough and impartial review."
This new standard from the DBSG will cover a wide range of issues – governance and management, debt acquisition, administration, customer contact, outsourcing, data protection and IT general controls. By fulfilling the standards set out, members will not only comply with existing laws, but also OFT guidelines.
At the moment, being part of CIP is purely voluntary. However, there are clear benefits for those who actively participate in the process.
Leigh added: "It follows a process driven by risk assessment and ongoing advancement, and by partnering with PwC the programme offers members systemic evidence of compliance and a marketable audited standard."
As an added level of encouragement, the audit has been priced very competitively – as well as proportionately. It will take into account the size and complexity of each member organisation – and the group will actively work within the industry to provide an added push for all members to take part.
Original article courtesy of DBSG
