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Related provisions for SUP 3.5.2
1 - 8 of 8 items.
If an auditor is to carry out his duties properly, he needs to be independent of the firm he is auditing, so that he is not subject to conflicts of interest. Many firms are also subject to requirements under the Companies Act 1989, the Building Societies Act 1986 or the Friendly Societies Act 1992 on auditor's independence.
A qualified investor scheme may invest in units in a scheme (a second scheme) only if the second scheme is:(1) a regulated collective investment scheme; or(2) a scheme not within (1) where the authorised fund manager has taken reasonable care to determine that:(a) it is the subject of an independent annual audit conducted in accordance with international accounting standards;(b) it has its value verified by a person independent from its operator in relation to each day on which
A BIPRU firm which adopts the standardised approach to credit risk may include general/collective provisions in its tier two capital resources only if:(1) they are freely available to the firm;(2) their existence is disclosed in internal accounting records; and(3) their amount is determined by the management of the firm, verified by independent auditors and notified to the FSA.