The final output – the wind-down plan – will be easier for its future users to implement if it is simply structured for ease of reference with sections such as:
The governing body of a firm should review and approve a wind-down plan and then maintain it by designating an accountable individual to own the document. This maintenance will ensure its reliability as an effective resource for the firm.
Wind-down plan is kept as a live document and is reviewed at least once a year.
Wind-down plan is left unrevised for years.