Review of the IRAP and ICAAP Assessment
9. Upon receipt of an IRAP or ICAAP the Regulator would normally:
a. subject the data provided to an initial analysis for completeness and accuracy followed by a more detailed comparison with the relevant data held on file at the Regulator about the Authorised Person;
b. determine if there are material changes compared with previous submissions;
c. determine if the submitted data contains indicators of a possible material change in the firm's risk profile;
d. address and discuss any information gaps or anomalies with the firm; and
e. form an assessment about content and quality of the submission which will be integrated into the overall supervisory approach.