An FCA audit is a comprehensive review of your firm’s compliance with the regulations set by the Financial Conduct Authority (FCA). It examines your internal processes, controls, and reporting practices to ensure they align with FCA standards and mitigate any regulatory risks.

An FCA audit helps ensure that your firm is fully compliant with the FCA’s rules and regulations. It can identify potential risks, improve operational processes, and enhance transparency, which ultimately protects your business from regulatory breaches and penalties.

The FCA audit process involves a thorough assessment of your firm’s compliance framework, including financial records, governance structures, and risk management practices. Our team will work closely with you to identify areas for improvement and ensure adherence to FCA standards.

FCA audits should be carried out regularly, depending on your firm’s size, activities, and regulatory obligations. Many firms opt for annual audits, but the frequency may vary based on the nature of your business and any changes to FCA regulations.

If your firm fails an FCA audit, the FCA may take enforcement action, which could result in fines, sanctions, or restrictions on your activities. However, our team can help you address any issues identified, assist with remedial actions, and guide you through the process of achieving compliance.