CASS audits and assurance

Firms that hold client money and assets need to send a written report to the FCA annually, to be prepared by an independent CASS auditor to provide reasonable assurance with regards to compliance with the CASS rules. The CASS auditor has to be satisfied that the firm has maintained adequate system to comply with the client money and client assets rules, failing which they may potentially give a more negative report based on limited assurance.

We provide external audit services, including CASS audit, to a range of financial services entities, from newly formed start-ups to established national and international groups. As part of the new FRC Client Asset Assurance Standards we also have the expertise to evaluate and report on a firm’s compliance to the CASS rules and other relevant rules to the holding of client assets. We are also able to assist firms with ad-hoc risk mitigation programmes, stress testing and designing remediation plans and undertaking past business reviews.

We are also able to prepare firms ahead of an independent CASS audit by running a pre-emptive ‘mock’ CASS audit programme.