How investment firms should prepare for a CASS audit

The deadline for submitting CASS reports is four months after year-end and the audit process is often fast-paced, with little room to stop and reflect. Oliver Hawes sets out practical suggestions for firms both ahead of and following their audits to assist in smoothing the process.

Oliver Hawes (ohawes@pkf-l.com) is a director in PKF Littlejohn's Financial Services team with 16 years of experience working in external audit and more than seven years in the financial services sector. He sits on the ICAEW CASS working party.

The Financial Conduct Authority continues to state the importance of CASS 6 and 7 audit reports -both in recent 'Dear CEO' letters as well as in correspondence received by firms following the submission of CASS reports.