FRC consults on client assets standard
Released 06 December 2018
The Financial Reporting Council (FRC) has launched a consultation to assess the effectiveness of the Client Asset Audit Standard (CASS Standard), as introduced in 2015.
The standard was developed both to support the Financial Conduct Authority’s regulatory activity and oversight of the CASS sector, and to provide a principles based framework to strengthen audit quality in response to some high profile and well publicised failures. 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. Feedback is requested by 4 March 2019.
For more information, see FRC consults on client assets standard.