2.15.1C Audit Reports for Remote Clearing Members

Without prejudice to such audit and/or reporting requirements as may be imposed by the Clearing House from time to time, a Remote Clearing Member shall furnish to the Clearing House:

2.15.1C.1 within five (5) months of the end of its financial year or within such longer period as may be permitted in writing by the Clearing House, the management report and the annual accounts duly audited in accordance with the usual accounting standards of the Remote Clearing Member by, and the certificate of, its auditor or auditors who shall be a public accountant or a firm of public accountants acceptable to the Clearing House. The auditor's certificate shall be in such form prescribed by the Relevant Regulatory Authority.
a. [Rule has been deleted.]
b. [Rule has been deleted.]
c. [Rule has been deleted.]
d. [Rule has been deleted.]

Reporting obligations of auditors

e. where, in the performance of his or their duties, the Remote Clearing Member's auditor or auditors becomes or become aware:
i. of any matter which in his or their opinion adversely affects or may adversely affect the financial position of the Remote Clearing Member to a material extent;
ii. of any matter which in his or their opinion constitutes or may constitute a contravention of any provision of this Rules, the SFA and/or any applicable laws or an offence involving fraud or dishonesty;
iii. of any irregularity that has or may have a material effect upon the accounts, including irregularities that jeopardize the moneys or other assets of any customer of the Remote Clearing Member; or
iv. that the accounting system, internal accounting control and procedures for safeguarding moneys or other assets are inadequate and the inadequacies have a material effect on the accounts,
the auditor or auditors shall immediately report the matter to the Clearing House; and
2.15.1C.2 [Rule has been deleted.]

Added on 31 December 201331 December 2013 and amended on 22 April 201922 April 2019.