GEN 6.6.4

An Authorised Person or Recognised Body must, in procuring the production of a Regulatory Returns Auditor's Report for a Domestic Firm, ensure that the Auditor states whether:

(1) it has received all the necessary information and explanations for the purposes of preparing the report to the Regulator;
(2) the Authorised Person or Recognised Body's Regulatory Returns, specified in PRU, PIN or MIR to the Regulator have been properly reconciled with the appropriate audited financial statements;
(3) the Authorised Person or Recognised Body's Regulatory Returns, specified in PRU PIN or MIR to the Regulator on a quarterly basis have been properly reconciled with the appropriate annual returns;
(4) the Authorised Person or Recognised Body's financial resources as at its financial year end have been properly calculated in accordance with the applicable Rules in PRU, PIN or MIR (as the case may be) and are sufficient to meet the relevant requirements;
(5) (in the case of an Authorised Person other than an Insurer) the Capital Resources have been calculated in accordance with the applicable Rules in PRU;
(6) (in the case of an Authorised Person other than an Insurer) the Capital Resources maintained exceed the Capital Requirement in accordance with the applicable Rules in PRU;
(7) (in the case of an Authorised Person) the Regulatory Returns specified in PRU or PIN have been properly prepared by the Authorised Person in accordance with the applicable rules in PRU or PIN;
(8) (in the case of an Authorised Person) the Authorised Person has kept proper Accounting Records in accordance with the applicable Rules in PRU or PIN;
(9) (in the case of an Authorised Person which is subject to Expenditure Based Capital Minimum) the Expenditure Base Capital Minimum has been calculated in accordance with the applicable Rules in PRU; and
(10) (in the case of an Authorised Person in Category 3B, 3C or 4, and which is subject to Expenditure Based Capital Minimum) the Capital Requirement maintained exceeds its Expenditure Based Capital Minimum and has been maintained in the form of liquid assets in accordance with the applicable Rules in PRU.
Amended on (3 February, 2020).