The first issue of CASScade, the newsletter for The CASS Forum, will be issued shortly. Make sure you receive your copy by registering with The CASS Forum. In the first issue:
- We consider the mapping of CASS rules to relevant risks and key controls as is now required to be produced by firms due to the FRC’s Audit Assurance Standard (“Providing Assurance on Client Assets to the Financial Conduct Authority”). We look at the issues the mapping creates for firms, large and small. We include some top tips for Creating a worthwhile CASS mapping that is of real value to you. The mapping needs to be more than a tick box exercise to ‘satisfy’ your auditors. It must be a living document that adapts to your business as it grows/changes. It must be a mapping that improves over time to give senior management the comfort that the firm continues to protect client money and remains on top of its CASS compliance.
- We look at the issues for firms that rely upon having risk transfer agreed with their insurers. There are some common and significant pitfalls to be avoided.