Skip to content

Control 3.7: Regulatory Reporting — Verification & Testing

Test cases and evidence collection procedures to validate regulatory reporting capabilities for Copilot governance data.

Test Cases

Test 1: Report Data Accuracy

  • Objective: Verify that regulatory report data matches source audit logs and compliance metrics
  • Steps:
  • Generate the quarterly governance summary report using the automation script.
  • Cross-reference the reported Copilot interaction count with a manual audit log search for the same period.
  • Cross-reference policy match counts with the Communication compliance dashboard.
  • Calculate the variance between reported and source data.
  • Expected Result: Reported data matches source data within a 1% margin (accounting for timing differences).
  • Evidence: Comparison spreadsheet showing reported values versus source data with variance calculations.

Test 2: Report Completeness

  • Objective: Confirm that all required report sections and data fields are populated
  • Steps:
  • Review each regulatory report template against the applicable regulation's requirements.
  • Verify that no required sections are blank or contain placeholder data.
  • Confirm that all Copilot-specific governance metrics are included.
  • Validate that the reporting period matches the regulatory submission window.
  • Expected Result: All report sections are complete, data fields are populated, and the reporting period is accurate.
  • Evidence: Completed report with a checklist showing all required sections verified.

Test 3: Report Generation Timeliness

  • Objective: Validate that reports can be generated within the required timeframe before regulatory deadlines
  • Steps:
  • Initiate a full report generation cycle using the automation scripts.
  • Measure the time from initiation to completed report output.
  • Verify the report is generated at least 10 business days before the submission deadline.
  • Confirm the pre-submission review workflow completes within allocated time.
  • Expected Result: Report generation completes within 2 hours and the full review cycle completes 10+ days before deadline.
  • Evidence: Timestamps showing generation start, completion, and review cycle duration.

Test 4: Historical Report Reproducibility

  • Objective: Confirm that historical regulatory reports can be regenerated with the same data
  • Steps:
  • Select a previously submitted report from the prior quarter.
  • Regenerate the report using the same date range and parameters.
  • Compare the regenerated report with the original submission.
  • Verify data consistency between the two versions.
  • Expected Result: Regenerated report matches the original within acceptable variance.
  • Evidence: Side-by-side comparison of original and regenerated report data.

Evidence Collection

Evidence Item Source Format Retention
Generated regulatory reports Automation scripts CSV/Excel 7 years
Data accuracy validation Comparison analysis Spreadsheet With report
Report generation timestamps System logs Text With report
Pre-submission review sign-off Workflow system PDF/Email 7 years

Compliance Mapping

Regulation Requirement How This Control Helps
FINRA 3120 Annual supervisory control report Supports compliance with data-driven supervisory reporting
SEC Form ADV Disclosure of AI tool usage Helps meet advisory disclosure obligations
OCC 2011-12 Model risk management reporting Supports risk reporting requirements for AI systems
FFIEC IT examination data requests Helps meet examiner data production requirements

Next Steps