Auditing FCA-regulated Designated Investment Firms (DIFs)

This course, which follows on from the introductory course, is designed to focus in greater depth on the FCA regulatory regime for investment firms 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.  

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  
• An update as to current FCA concerns 
• A refresher of some of the ways in which both regulated and unregulated firms can act illegally in the regulated space and the impact this can have on the audit 
• A refresher of key FCA rules affecting Investment firms, including financial resources and RegData reporting rules  
• Guidance on the preparation of accounts and/or the statutory audit of Investment firms, 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 and latest ICAEW and FCA Guidance for auditors)  
• Practical problems on CASS audits  
• Practical issues with MiFIDPRU 
• Electronic Money and Payment Services firm safeguarding audit issues 
• Auditors’ whistleblowing rights and duties  

 The content for online courses predating 2024 may vary.