In plain English
In several jurisdictions a supervisor can require an institution to appoint an independent expert, often called a skilled person, to review an area of concern, report on findings, or oversee remediation. The expert typically works to a scope agreed with the supervisor, typically reports to both the institution and the supervisor, and is usually paid for by the institution.
A skilled person review is not an audit and not a routine consultancy engagement. Its findings often become the basis for the supervisor's next steps.
Why it matters to a board
The institution's response matters as much as the findings. Boards should make sure the reviewer has access and honest answers, that action is timely, and that remediation is evidenced.
Common mistakes
- Treating the review as a box-ticking exercise.
- Not preparing evidence and people in advance.
- Letting the scope drift without agreeing it with the supervisor.
- Fixing symptoms instead of root causes.
What the standards and regulators say
- The legal basis and expectations depend on the jurisdiction and the supervisor. Read the relevant legislation, the supervisor's published guidance and the appointment or scope letter itself.