Auditing and Assurance Standards and Guidance

FRC Assurance Standards

Providing Assurance on Client Assets to the Financial Conduct Authority

CLIENT ASSET ASSURANCE STANDARD

Appendix 2 Illustrative qualified opinion in a reasonable assurance report on client assets

The CASS auditor has determined that breaches identified on the breaches schedule do not provide evidence of systemic weaknesses in the system of internal control and that therefore its opinion on the maintenance of systems during the period should be qualified in "except for" terms. This breach was corrected before the period end.

The firm did not have nominee companies at any time throughout the period.

There have been no secondary pooling events during the period.

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