CASS 5 Audit Companies UK: A Practical Overview and Selection Guide
AC
Acumon Chartered Accountants·12 min read
This practical guide offers a clear overview of CASS 5 Audit companies operating across the UK. Rather than ranking them, we explore what these companies actually do in the CASS 5 space and how they support businesses with client money requirements.
You will find a range of companies here - from larger organisations with broad capabilities to more specialised teams focused specifically on CASS audits. Each brings its own approach to helping FCA-regulated companies maintain proper segregation of client money, complete accurate reconciliations, and meet ongoing regulatory obligations.
Whether you need support with daily client money calculations, robust internal controls, or independent assurance reporting, this overview gives you the context to compare your options and make an informed decision that fits your business needs.
Acumon
Acumon is a UK firm of chartered accountants and registered auditors providing CASS 5 audit services to FCA-regulated companies that hold or control client money. The firm delivers independent assurance on client money arrangements in line with the requirements of the Client Assets Sourcebook.
Acumon supports a range of FCA-regulated companies, including insurance intermediaries, investment businesses and other entities involved in insurance mediation activities. The firm understands the importance of proper segregation, accurate reconciliations and robust controls over client funds. Their approach combines technical regulatory knowledge with a practical focus on minimising disruption to day-to-day operations.
The firm applies a structured risk-based methodology when conducting CASS 5 audits. This ensures thorough examination of client money processes while maintaining clear communication with management throughout the engagement. Acumon’s UK-based team works closely with companies to provide assurance that meets FCA expectations and supports ongoing compliance.
Acumon is fully authorised and regulated by the ICAEW and the FRC, which allows the firm to issue formal CASS assurance reports suitable for submission to the regulator. The firm maintains strong standards of quality and independence in all CASS 5 engagements.
CASS 5 Audit Capabilities:
Acumon provides comprehensive CASS 5 audit services focused on client money requirements for FCA-regulated companies. These include:
CASS 5 audits for companies holding client money
Client money segregation reviews
Daily reconciliation process assessments
Client money calculation verification
Client bank account compliance checks
Record-keeping and control evaluations
Assurance report preparation for FCA submission
Regulatory Licences and Registrations:
Acumon holds several audit registrations that enable it to support organisations operating across multiple jurisdictions.
These include:
UK statutory audit registration
Public Interest Entity (PIE) audit licence
Jersey audit licence
Isle of Man audit licence
Cayman Islands audit licence
British Virgin Islands audit licence
These registrations allow the firm to provide audit services to groups that include entities in both the UK and key international financial centres.
Core Services:
In addition to statutory external audit, Acumon provides a range of services that support financial reporting and governance.
These include:
statutory external audit
group and subsidiary audits
Public Interest Entity (PIE) audits
charity and not-for-profit audit
audit of international group structures
internal audit and governance reviews
risk management and compliance support
Audit work is often delivered alongside discussions with management and boards regarding financial reporting processes and governance frameworks.
Many organisations initially encounter statutory audit requirements as they grow and exceed the audit exemption thresholds set out in the Companies Act.
Acumon works with businesses that are:
approaching their first statutory audit
preparing for external investment
expanding into international markets
operating within corporate group structures
Early engagement with an audit firm can help ensure that financial reporting systems and documentation are aligned with statutory audit requirements.
Address: 1-2 Craven Road, Ealing, London, W5 2UA, UK
HWB Accountants
HWB Accountants support FCA-regulated companies with their CASS 5 obligations. The company focuses on helping insurance intermediaries and other relevant businesses maintain proper handling of client money in line with regulatory requirements.
Their team conducts CASS audits and provides assurance on client asset reports. They assist with client money reconciliations, proof of client money requirements, and preparation for CASS 5 audits. The company also offers guidance on implementing necessary operational processes and controls to stay compliant with the Client Assets Sourcebook rules. They emphasise clear reporting and practical support to help companies meet FCA expectations around segregation and record-keeping.
Key Highlights:
Specialist support for insurance intermediaries
Experience with CASS classification and notifications
Saffery delivers CASS audit services to companies that hold or control client money under FCA rules. The company provides independent assurance on how these companies manage client assets in accordance with the Client Assets Sourcebook.
Their work includes both reasonable and limited assurance reports depending on the company's permissions and activities. Saffery helps companies understand the differences between assurance types and supports timely submission of reports to the FCA. They focus on the practical application of CASS 5 rules for client money, particularly for firms engaged in insurance mediation activities.
Buzzacott provides CASS audit services to FCA-regulated companies that handle client money. The company prepares reports giving reasonable assurance opinions on systems and compliance with relevant CASS rules.
They support various types of companies including insurance brokers operating under CASS 5. Buzzacott ensures companies receive clear guidance on requirements for client money handling and assists with the separate nature of CASS audits from statutory work. Their approach includes attention to breaches reporting and an insolvency-focused mindset during procedures.
Prydis offers CASS audit and assurance services to FCA-authorised companies across the UK. The company works with firms that hold or control client money, delivering independent reviews focused on CASS 5 requirements.
Their process includes pre-audit assessments and efficient delivery of reports with practical recommendations. Prydis supports companies in demonstrating robust controls over client money while maintaining clear communication with regulators.
Menzies supports mortgage and general insurance companies with CASS 5 client money requirements. The company provides guidance on performing client money calculations and reconciliations to ensure proper protection of client funds under FCA rules.
The approach involves regular calculations using either the client balance method or accruals method to determine the client money requirement. Companies then compare this to the client money resource shown in accounting records and reconcile to bank statements. Menzies explains the importance of timely rectification of any excesses or shortfalls. Completed reconciliations require signing by the CASS compliance officer and retention of supporting documentation for review during audits.
Price Bailey delivers CASS audit services to companies regulated by the FCA that handle client money. The company works with businesses distributing insurance products under CASS 5 rules as part of their broader client asset compliance support.
Their process starts with understanding the control environment and includes mapping relevant rules to existing procedures. The team reviews reconciliations and performs tests on segregation of client money in bank accounts. Price Bailey assists with identification of potential breaches and preparation of related schedules for FCA submission.
Address: 8th Floor Dashwood House 69 Old Broad Street London EC2M 1QS
LinkedIn: www.linkedin.com/company/price-bailey
Facebook: www.facebook.com/PriceBaileyLLP
Twitter: x.com/price_bailey
Instagram: www.instagram.com/pbpeople
BKL
BKL provides CASS audit services to companies that hold or control client money. The company supports compliance with the Client Assets Sourcebook rules through specialist reviews focused on insurance-related activities under CASS 5.
Their team builds an understanding of each company's business model to assess systems and controls. BKL can coordinate CASS work alongside other audit activities to reduce disruption. The company also prepares different types of assurance reports based on the specific permissions and activities of the company.
Key Highlights:
Specialist FS audit team
CASS 5 audit experience
Systems and controls reviews
Report preparation support
Services:
CASS 5 audits
Limited assurance reports
Reasonable assurance reports
Client money compliance reviews
Control improvement recommendations
Contact Information:
Website: bkl.co.uk
Phone: +44 (0)20 7832 0444
Address: First floor, 5 Fleet Place, London EC4M 7RD
Hillier Hopkins assists companies with CASS assurance reports required under FCA rules for client money handling. The company helps mortgage and general insurance companies determine the appropriate type of report based on their client account setup and holdings.
They explain the differences between reasonable assurance, limited assurance, and hybrid reports. Hillier Hopkins supports companies in understanding reporting deadlines and submission requirements to the FCA. The team works with firms to clarify obligations specific to CASS 5 for client money in insurance activities.
CASS Audit Services offers external and internal CASS audit services to small and medium-sized FCA regulated companies. The company specialises in client money compliance under the relevant CASS rules including those for insurance mediation.
Their work includes conducting assurance engagements and providing consultancy on CASS processes. The team focuses on delivering factual assurance opinions and practical recommendations for maintaining compliance with client money requirements.
MAH supports FCA-regulated companies with CASS 5 audits for client money. The company performs both reasonable assurance audits for companies that hold client money and limited assurance reviews for those that do not.
The process starts with understanding the business and planning the audit, including reviews of client onboarding, transaction flows, and daily reconciliation procedures. MAH then tests samples of transactions, bank statements, and reconciliations before preparing the final report. Any potential issues or breaches are discussed with the company before submission to the FCA. The company works with various types of businesses including insurance brokers and foreign exchange trading platforms.
FSCom provides specialist support to companies in the financial services sector with regulatory compliance matters. The company works with FCA-regulated businesses on client money and assets requirements under CASS rules.
Their approach focuses on practical guidance for meeting ongoing obligations related to client money handling. FSCom helps companies navigate the specific demands of CASS 5 for insurance mediation activities.
Grant Thornton delivers audit and assurance services to companies across the UK, including work with financial services businesses. The company supports regulated companies in meeting their client assets obligations under FCA rules.
Their teams combine local presence with broader resources to assist with CASS-related assurance engagements. Grant Thornton works with companies on various aspects of regulatory reporting and compliance requirements.
RSM UK assists companies with client money and assets compliance under the CASS rules. The company works with financial services businesses to review and strengthen arrangements for protecting client funds.
Their specialist team supports understanding of CASS requirements and conducts assurance reviews. RSM UK helps with preparation of annual CASS audits and operational process enhancements focused on client money controls.
Wisteria provides information and support on CASS audits to companies that may require them. The company explains the requirements for businesses handling client money under FCA regulations, including CASS 5 provisions.
Their guidance covers when companies need CASS assurance reports and the different types of reports available. Wisteria helps companies understand their obligations regarding client money protection and compliance.
Key Highlights:
Clear guidance on CASS requirements
Support for regulated companies
Explanation of report types
Services:
CASS audit explanations
Compliance requirement reviews
Client money guidance
Assurance report support
Contact Information:
Website: wisteria.co.uk
Phone: 020 4546 7630
Address: The Grange Barn, Pike's End, Pinner, London, HA5 2EX
Choosing the right CASS 5 audit partner depends on factors such as the size of your business, your specific sector, the maturity of your existing processes, and your individual regulatory requirements. Some companies take a broader integrated approach while others focus more narrowly on client money compliance and assurance.
This guide has presented a neutral overview of various CASS 5 audit companies in the UK and what they offer in this area. The right partner delivers independent assurance and practical steps to reduce risks and support resilience. Ultimately the decision comes down to finding a good fit that aligns with how your company operates and the level of support you need.
AC
Written by the Acumon team
Acumon is an ICAEW-registered firm of chartered accountants and registered auditors
based in London, with offices in Pitstone, Aylesbury and Bournemouth. Need advice on
anything covered here? Talk to us.
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