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Assurance reports on benchmarks and indices

ICAEW’s guidance to assist assurance practitioners engaged to perform work on submission to, or compilation of, benchmarks, indices and independent price reports.

The project to develop guidance started in 2012. ICAEW anticipated that regulators and market participants would demand assurance to help restore confidence in important benchmarks.

A working group was formed to create guidance for assurance practitioners. Over the past 18 months they have consulted with index providers, benchmark administrators, benchmark contributors, price reporting agencies, regulators and policy makers. The goal was to create guidance which provides a consistent framework for the provision of assurance across a range of benchmarks and indices.   

A feedback statement on comments received accompanies the final guidance.  

ICAEW remains engaged with domestic and international initiatives seeking to reform and improve benchmarks and indices.  We have constructed the guidance to allow it to be updated as the demand for assurance evolves, independently or with regulation, and to allow additional sections to be created, should an additional type of benchmark or index require specific guidance. 

For further information please contact philippa.kelly@icaew.com

This guidance replaces the exposure draft and interim guidance published by ICAEW in January 2013.

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