Inspection Response Program or IRP is a written policy and procedures of issues pertaining to inspection.
- It ensures all relevant policies will be well thought out.
- Senior members of company management will approve both the policy and their implementation.
- SOP’s are written. They are communicated to all who are involved in hosting regulatory inspectors. Hence you ensure uniform application of such policies throughout the firm.
- And then it also provides a basis for periodic review as regulations and other practice change thorough out the year.
