GENE 9.5.3 Additional audit reports — custody
(1) This rule applies to an authorised firm for a financial year of the firm if the firm
provided custody services at any time during the year.
(2) The authorised firm must ensure that its auditor also produces a report for the financial year that states whether, in the auditor's opinion:
(a) the firm maintained systems and controls throughout the year to enable it to comply with the provisions of INMA relating to the
provision of custody services;
(b) the investments in relation to which the firm
provided custody services during the year were registered, recorded and held in accordance with those provisions;
(c) any of the other requirements of those provisions were not complied with during the year; and
(d) there have been material discrepancies in the reconciliation of those investments during the year.
|Editorial changes (as from 1st January 2016).|