CASS Working Party & Message from FCA
The ICAEW Financial Service Faculty’s CASS working party focuses on the challenges that the sector (both regulated firms and their auditors) faces.
Part of the working party’s role is to maintain the regulatory conversation with the FCA. It is in this capacity that we would like to pass on a message from the FCA as follows:
Auditors of many firms regulated by the Financial Conduct Authority have to send an annual report to the regulator on whether their client has complied with the client assets rules.
The FCA is changing the process by which the reports are submitted so, instead of sending them by email, auditors will log onto the FCA’s main communications platform ‘Connect’.
New process
The new process went live on 2 December 2019 and further details can be found in this FCA Report.