FCA REGULATED ENTITIES
FCA-regulated entities are required to appoint an auditor if they are classed as a collective portfolio management firm, a UCITS firm, an internally managed AIF, or an MiFID investment firm that is a sole trader or partnership. The regulations concerning audit requirements are located in SUP 3 of the FCA Handbook. Entities regulated by the FCA must engage an auditor if they manage client money or custodial assets and are classified under the categories specified in SUP 3.1.2R.
If you are unsure whether your activity falls within this category, we suggest you consult with your compliance department for guidance. If you ascertain that your company does necessitate an audit, it is crucial to act promptly, as the FCA’s reporting date is typically 80 business days following the conclusion of your financial year.
We have a wealth of experience in auditing FCA-regulated entities. Please do not hesitate to contact us if you require assistance initiating the process.
