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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

internal controls

    the whole system of controls, financial or otherwise, established by the management of a firm in order to:

      1. (a) carry on the business of the firm in an orderly and efficient manner;
      1. (b) ensure adherence to management policies;
      1. (c) safeguard the assets of the firm and other assets for which the firm is responsible; and
      1. (d) secure as far as possible the completeness and accuracy of the firm's records (including those necessary to ensure continuous compliance with the requirements or standards under the regulatory system relating to the adequacy of the firm's financial resources). 5