FAQs & Other Resources

Third-party validation refers to an impartial evaluation conducted by an external entity to openly assess and verify the performance and compliance of an organization with the Cerise+SPTF client protection standards.

Examples of third-party validations include an external client protection assessment (as distinct from a Step 2 self-assessment or accompanied self-assessment) or a certification.

Certification is one form, the most rigorous form, of third-party validations.

There are 2 ways of getting a third-party validation.
A. CP certification conducted by a company with an independent certification committee or
B. Third party validation conducted by a team of two individuals with at least one CP qualified auditor.

Both are conducted by qualified experts, who are independent of the organization being assessed, ensuring impartiality and thorough analysis.
Both serve the objective of demonstrating your performance and compliance with the Cerise+SPTF client protection standards.
The key difference is that a Certification involves the additional step of discussion and decision by an independent certification committee, usually leading to a formal recognition in the form of a certificate.

Determining which third-party validation to pursue depends on various factors that the FSP should consider, such as :

• the specific goal sought
• the level of credibility and recognition required
• the available budget compared with the expected comprehensiveness of the analysis
• the expectations and preferences of stakeholders such as clients, investors, regulators, and partners.

Cerise+SPTF recommends that the selection of third-parties be undertaken carefully, with attention to the proposed providers’ reputation and their specific expertise in client protection. To help stakeholders in their selection process, we have established recommended Guidelines for third-party validations.

First, they should make sure that they are ready for that process by getting familiar and self-assessing with the Client Protection Full framework. Then they should contact several third parties to request proposals, and should then evaluate those proposals in particular for their alignment with the Cerise+SPTF guidelines. Please note that certification is a product offered by organizations such as rating agencies. Individual consultants may be a good choice for other forms of third-party validations such as external assessments or social audits, but third-party individuals will not issue a seal or a certificate.

Cerise+SPTF has published some Guidelines for stakeholders who wish to contract a third party for an external assessment of client protection practices. Stakeholders should carefully read the third party’s technical proposal to ensure it is aligned with these guidelines. If you wish to receive a second opinion on the alignment of your third-party validation with Cerise+SPTF framework, we offer this service for a fee. You can request this directly from your third-party entity or contact us at cppathway@sptfnetwork.org.

Definitely not! The CP Standards remain, and are all the more relevant as we focus on our core mission to support FSP in their road to improvement. The CP Pathway is the key resource to set this roadmap and we will continue to promote those FSPs who are engaged in advancing client protection.

On this page, you’ll find a public downloadable list of all qualified auditors. Being qualified means that an individual has gone through the three levels of training developed by Cerise+SPTF, including a real case audit, in the field, with supervision and individual coaching by one of our experts.

We encourage selection of CP qualified auditors because they have been specifically trained to align with the methodology and framework of the certification standards. The CP qualification program is still new (introduced in 2023), and the pool of CP qualified auditors is growing steadily. You can pick an SEPM qualified auditor as well (remember that CP Standards are fully incorporated in the USSEPM), ideally requiring that she/he has completed the Level 2 – Go Deeper on CP course.

The third-party organization will deliver its own certificate, without the Cerise+SPTF logo. As noted above, please remember that certification is a product offered by organizations such as rating agencies; third party individuals will not issue a seal or a certificate.

Any organization who has commissioned a third-party validation (e.g., a financial service provider or an impact investor who funds that FSP) can commission Cerise+SPTF to provide a second opinion (fee-based service).

Based on the information provided, Cerise+SPTF will review the validation file to evaluate whether the team followed our recommended framework and whether, in our opinion, the conclusions that team reached were justified.

IMPORTANT: We issue our opinion based on a desk review of information provided. We do not go on-site, talk to the FSP or read its documentation. We do not and cannot guarantee the reliability of that information. Our review does not verify the accuracy of the findings, it only verifies the alignment with the CP framework.

Certified FSPs can and should report their certification to the CP Pathway by filling out this form. Their level of achievement will then appear on the list of institutions on the CP Pathway. 

Those FSPs are under review by their respective rating agencies, under the agencies’ own agenda. These agencies will be the ones granting a decision on these certificates.