CAR Audit Preparation
Protecting client money is a regulatory priority for the Central Bank. This is not surprising given the huge consequences for clients resulting from the misuse of client money, particularly in the event of a firm’s insolvency.
Depending on the permissions a firm has in relation to client money and/or assets, investment firms may require a CAR Assurance Report.
As regulatory experts in the investments sector, and experienced auditors, we are best placed to help you prepare for your CAR audit.
What is a CAR audit?
Regulation 9 of the Client Asset Regulations 2015 requires that investment firms arrange for an external auditor in relation to its safeguarding of client money on at least an annual basis.
How can we help?
We can undertake a pre-audit examination to identify any major gaps in the firm’s systems and procedures. We will then work with you to address and remediate these gaps in time for the firm’s formal CAR audit. This preliminary exercise will determine where you are doing things right and where things can be done better.
If you are looking for assistance in preparing for your CAR audit, contact us today for a free initial consultation.
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