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FRC launches consultation on the effectiveness of Client Asset Audit Standard

  • FRC Image

10 Dec 2018

The Financial Reporting Council (FRC) has launched a consultation on the effectiveness of the Client Asset Audit Standard (CASS Standard).

The CASS Standard was introduced in 2015 to support the Financial Conduct Authority’s regulatory activity and oversight of the CASS sector. 

Now that the standard has been used by auditors for three years, the FRC is seeking stakeholder feedback to determine whether further measures are needed to support audit quality in this area. In the consultation, the FRC is also seeking views as to whether it should seek to develop a monitoring regime to provide a mechanism for better assessing the quality of CASS audit work undertaken in the UK. Feedback is requested by 4 March 2019.  

The press release and consultation can be found on the FRC website.

Our response to the consultation can be found by clicking here

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