The Internal Operations Manuals' purpose is to establish the procedures and control systems upon which the Company operates. The Internal Operations Manual must contain instructions and rules for the execution of work as well as the obligations of the Company's management and personnel so that there are no discrepancies or ambiguities regarding the professional conduct of any client of a Company.
Furthermore, the Internal Operations Manual includes procurement processes for the establishment of quality standards and specifications for all of the Company's operations, intending to achieve equal levels of quality in all services provided by the Company's management and employees; and the availability of the Company's procedures and rules for operation, both to those in charge of carrying out the Company's functions and to the company clients
The Internal Operations Manuals are prepared in accordance with and by applying the Principles of Best Practice in accordance with the applicable laws and regulations per relevant jurisdiction and the regulators' requirements.
The Internal Operations Manual typically should be prepared by or for the Company's Board of Directors and submitted to the relevant regulatory Authorities for approval. The Board of Directors is liable for the adequacy of the processes and the control safeguards in place. Likewise, the Board of Directors must regularly review and update the Internal Operations Manual.