Auditing Policy & Process
Overview
The GVU has implemented a risk-based strategy for auditing members’ UDU records, conducting audits consistently throughout the year.
Those members whose logs have undergone the end-of-year process may be selected randomly for auditing and will be requested to confirm the non-GVU entries logged as UDU. Refer below for examples of acceptable evidence.
This policy relates to the audit process for members selected for audit.
Acceptable Evidence Guidance
Acceptable evidence is required for all UDU activities recorded as Structured UDU. No evidence is required for UDU activities recorded as unstructured. Please note all UDU activities undertaken with the GVU are automatically logged to the GVU UDU Scheme and will not require evidence.
For evidence to meet the GVU requirements, it needs to include the following:
- Full Name and Surname of person undertaking the UDU activity (initials are not acceptable);
- Title of UDU Activity,
- Date of activity (including the year),
- The duration of the activity. Please note lunch/tea breaks should not be included in UDU
hours, - Confirmation of attendance / participation/ completion of UDU activity (after the
activity has occurred), - Score or grade if applicable (if exam or eLearning test)
- Details of the individual confirming the activity (full name/job title).
- The full name, signature and job title of the verifier / UDU Provider.
Examples of Accepted Evidence Documentation
|
Type of Document
|
Required Information on Document
|
|---|---|
|
Certificate
|
Name of attendee
Date of activity (including year) Duration in hours Details of the provider |
|
Letter of confirmation
|
Name of attendee
Date of activity (including year) Duration in hours Confirmation of attendance Details of the provider |
|
Email Confirmation
|
Name of attendee
Date of activity (including year) Duration in hours Confirmation of attendance (after the activity has taken place) Details of the provider |
|
Attendance Sheet
|
Name of attendee
Date of activity (including year) Duration in hours Title of Activity Details of the provider |
Not Acceptable of Evidence
|
Type of Document
|
Reasons
|
|---|---|
|
Invitation/confirmation of intention to attend
|
Does not confirm attendance
|
|
Invoice
|
Does not confirm attendance
|
|
Images and photos such as, Screengrabs or Selfies
|
Does not confirm attendance
|
|
Agenda
|
Does not confirm attendance
|
|
Notes/Documents from attended event or meeting
|
Does not confirm attendance
|
Guidance on Recorded hours
Attendance at events
Presenter/Speaker
Audit Process
The chart below outlines the process and timeline for UDU auditing.
*Auditing occurs regularly throughout the year and members can be audited in consecutive years.
The UDU scheme supporting evidence guidelines will help you identify the supporting evidence you need to retain when entering non-GVU UDU entries into your log over the 12 month period for which your UDU log runs.
Members who attend a third party UDU event, and do not have suitable evidence of attendance, should upload to their UDU log, a third party UDU certificate which has been completed and signed by the event provider.
The GVU audit team will inform members by email if there have been selected for audit. The email will specify the information required and include guidelines on acceptable evidence.
- Members will be given 30 days to submit evidence from the time the
email notification is received. The audit deadline date will be included in the email confirmation. - The GVU will normally take up to four weeks to complete the assessment unless further evidence or clarification is required.
- Audits that are submitted with inadequate evidence may take longer to process.
- An email will be sent within four weeks of audit submission if further evidence is required. Two weeks will be given to return the further evidence requested; timelines may vary depending on the volume of
information required. - Members whose records have sufficient evidence attached at the time of selection maybe submitted by the GVU on behalf of the member.
- Every effort will be made to contact members selected for audit, but members must ensure their contact details are kept up to date, which can be updated via the GVU website at: (globalverseunion.com/mygvu).
Every effort will be made to support members throughout the audit, but it is important that members contact us if they have any concerns or queries during the process at [email protected]
Passing an Audit
The GVU will notify members on the result of the UDU audit and will issue a certificate confirming the audit pass
Failing an Audit
- Failure to provide further evidence requested, will be seen as a failure to comply with the audit requirements and the audit result be deemed as a fail. An audit fail will be awarded and recorded on the UDU record and this outcome and the reason will be communicated in writing to the member.
- Opting out of an audit, may be deemed to be a failed audit. An audit fail will be awarded and recorded on the UDU record and this outcome and the reason will be communicated in writing to the member.
- A fail will also be awarded if the UDU or the evidence provided does not meet the required GVU requirements. An audit fail will be awarded and recorded on the UDU record and this outcome and the reason will be communicated in writing to the member.
As a Professional Body we rely on our members’ honesty and professionalism, but if a member is found not to have completed the UDU they have added to their UDU records, this may be considered as a breach of the GVU Membership Regulations and may lead to a referral to the GVU Disciplinary Panel.
– consequences of failing a UDU Audit:
- Removal of Accredited Status.
- Cancellation of a Certificate Status.
- Removal of membership status if the member does not meet the set hours to maintain membership.
Appeals Process
By utilizing the GVU UDU scheme to record Union Development Units (UDUs), members have the chance to showcase and substantiate their continuous dedication to professional development, both to their employer and the regulatory body. The GVU conducts annual audits, reviewing a minimum of up to 10% of all UDU records to ensure adherence to scheme requirements and maintain standards. This policy outlines the process for providing feedback, addressing queries, and submitting appeals regarding any GVU audit decision.
Audit FAQ
https://www.cisi.org/cisiweb2/docs/default-source/cisi-website/membership/cpd-audit-faqs.pdf?sfvrsn=2ba43b02_2
https://www.cisi.org/cisiweb2/cpd/auditing-your-cpd
The Union Development Units (UDU) represent credit units specifically tailored for the Global Verse Union (GVU) and are comparable to Continuing Professional Development (CPD), which involves the continual upkeep of professional competence. Recognized as a crucial element, UDU plays a pivotal role in elevating professionalism standards within the Verse-related Technologies.
Yes, all members are required to carry out the required amount of UDU.
Depending on your level of membership you will be required to undertake a specific number of UDU Credits.
Yes, all members will have access to their own personalized GVU UDU log as part of their membership. This can be accessed via MyGVU.
We offer a range of complimentary products and services that can assist our members such as:
- Global Networking & UDU events
- Selection of past events and live webcasts
- Online training through GVU Portals
- GVU publications – The Review and Investment Management Review Any UDU undertaken with the GVU is automatically recorded within member’s GVU UDU records
There are number of activities that cannot be recorded as UDU, which are listed below:
- Appraisals / one-to-ones / performance reviews
- Meetings where no measurable learning has taken place
- UDU undertaken that does not cover Verse-related Technologies subjects.
- Activities that are part of the job role, rather than a
learning activity - Social events.
Yes, some firms have a very explicit UDU scheme which goes further than the GVU UDU minimum requirements. We would recommend you check your
firm’s requirements when undertaking your UDU . Your
firm’s requirements, if higher, will supersede the GVU UDU requirements.
All members who have failed to meet the UDU requirements will have their membership suspended. Suspended members will remain suspended until they meet the UDU requirements.
Consequences of not meeting the UDU requirements are:
- Loss of UDU™ certification status
- Inability to upgrade membership
- Inability to maintain or renew an GVU
- Cancellation of Certificate of Professionalism
- Loss of membership benefits
If your membership was suspended due to failure to complete UDU, you will only be able to reinstate your membership once you have met the UDU requirement.
You will need to complete the membership reinstatement form to reinstate your membership.
If you are looking to reinstate your membership after three years, you will be required to re-apply for membership and meet the requirements of GVU membership at the time of your application.
No, you will need to have completed the minimum of required credits’ UDU and meet our other criteria for upgrading to GVU membership. To find out more please visit: GVU Recertification page to check the required UDU Units.
10% of members are selected at random for audit, check Audit Procedures Page.
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