Summary of SPOT inspections on the outsourcing of internal control

As announced in the AMF's supervision priorities for 2020, the first series of SPOT inspections for the year on asset management companies (AMCs) consisted in a review of the outsourcing of internal control to an outside firm. In view of the key role played by the internal control function in AMCs, and insofar as in any case these companies remain responsible for this function, it seemed relevant to analyse the conditions of such outsourcing and the quality of the services performed, through a SPOT inspection of a sample of seven companies using three different firms.