Auditing FCA-regulated Designated Investment Firms (DIFs) - Key Points
This course, which follows on from the Acting for FCA Clients: An Introduction course, is designed to focus in greater depth on the FCA regulatory regime for designated investment firms (DIFs) and to ensure auditors are equipped with the knowledge and skills needed to comply with their responsibilities to both the client and the FCA.
Aimed at partners and qualified staff with experience in dealing with FCA firms, the course will revisit key statutory audit and especially CASS audit issues, including a case study based on the Mercia specialist assignment manual (SAM) for DIFs.
This course will cover the key points concerning:
This course will cover:
- A brief refresher on the regulator’s role and key FCA sectors including asset managers, stockbrokers, financial advisers and more recent categories including e-money and payment services firms
- A refresher of key FCA rules affecting DIFs, including financial resources and GABRIEL reporting rules
- Guidance on the preparation of accounts and/or the statutory audit of DIFs, including consideration of laws and regulations
- An overview of the CASS chapters 3, 6, 7 and 8 rules and the CASS audit regime (per the FRC CASS Assurance Standard) including the case study as noted above
- Practical problems on CASS audits
- Auditors’ whistleblowing rights and duties
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