ITM to provide ‘Data Due Diligence Certificate’.

10-Feb-2010

ITM, the independent data and administration consultant will provide Advisers who undertake an independent Data Risk Review with a ‘Data Due Diligence Certificate’.

Steven Weiss, Director at ITM comments: ‘the ITM certification will help Advisers evidence that they have compiled their electronic record keeping, kept data standards and can provide segmentation details for TCF purposes as would be required both for themselves internally and any Acquirer. Advisers will be able to evidence this as good governance and internal controls. Advisers can demonstrate to their clients, potential acquirers and the Regulator that they know their data and any associated risks and have plans to mitigate them. They will also be able to demonstrate the value of their business in a consolidated format.

ITM audits several hundred data sets per year particularly for corporate schemes.

Advisory individuals and companies will now be able to include their ITM Data Due Diligence Certificate in the processes that support the their business accounts and the business register. The certificate will be a simple benchmark that demonstrates how Advisers have complied with basic data conventions and standards..

For larger organizations The Data Due Diligence Certificate is not just a one-off but can be used to demonstrate both internally and externally that data issues and actions are measured, monitored and managed annually..

ITM believes that undertaking a data audit independently is best practice and ensures objectivity.p>

Further information is available at www.itmlimited.com