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SUP 3.7 Notification of matters raised by auditor

Application

SUP 3.7.1G

SUP 3.7 does not apply to an incoming Treaty firm which does not have a top-up permission.

Notification

SUP 3.7.2G

A firm should consider whether it should notify the FCA and the PRA (if it is a PRA-authorised firm) or the FCA (in all other cases) under Principle 11 if:

  1. (1)

    the firm expects or knows its auditor will qualify his report on the audited annual financial statements or add an explanatory paragraph; or

  2. (2)

    the firm receives a written communication from its auditor commenting on internal controls (see also SUP 15.3).

SUP 3.7.3G

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