Accounting and auditor records

1. Client money – retain sufficient records to show and explain the firm’s transactions and
commitments. These need to be kept current and up to date and will need to be kept for
three years after the record is made. (CASS 5.5.84R)
2. Client money shortfall – record each client’s entitlement to client money shortfall. Up to
date records need to be kept until the client is repaid.
3. Financial accounts for six years.
4. Auditor reports for six years. Auditors will need to produce a client asset report that
includes the following:
a. the firm has maintained systems adequate to enable it to comply with the Client
Asset rules throughout the period since the last date as at which a report was
made;
b. the firm was in compliance with the rules as at the date on which the report was
made;
c. if a secondary pooling event has occurred, the firm complied with rules in relation to
a pooling event.
5. The auditor’s report must be produced no longer than fifty three weeks following the last
report.