Following the FRC’s Audit Assurance Standard (“Producing Assurance on Client Assets to the Financial Conduct Authority”), all external auditors now require management to produce a CASS Mapping to demonstrate that management are fully on top of their CASS compliance.
A well documented and up to date CASS Mapping enables management to establish that it has the necessary controls in place.
Use CASS Wizard to create and maintain a comprehensive mapping of the relevant CASS rules, associated ‘Risks’ and ‘Key CASS Controls’ for your business.
- Use the smart survey tool to establish the Key CASS Operating Assumptions and the CASS rules that are relevant for your firm’s operations.
- Identify and assess the Risks in your business associated with each relevant CASS rule. Select from continually updated database of suggested Risks within the application, edit them or add your own Risk definitions.
- Identify the Key CASS Controls used to mitigate the Risks. Select from a continually updated database of suggested Key CASS Controls within the application, edit them or define your own Key CASS Controls.
- Record for each Key CASS Control the control type, responsibility, frequency, location of evidence and related process notes.
- Record an assessment of design/operational effectiveness of each Key CASS Control, highlight any gaps or issues identfiied for Reporting and action.
Keep your CASS Mapping up to date as your business changes using CASS checklists and efficient edit of your CASS mapping to help ensure CASS requirements are properly considered as your business develops.
If you would like to find out more then please contact us.