One of the greatest control challenges in the Financial Service industry today stems from a lack of a proper operational accounting records. Operational and administration systems may do their core job well, but often they fail to create operational accounting records to correctly account for that activity and the positions and exposures that it can generate.
Where a company is authorised to hold client money – money which still belongs to the client and not to the firm – the accounting challenge is much greater, and even if the client has operational accounting records these may be inadequate for delivering full control of client cash.
Download your complimentary copy of this paper for details on:
- Why a Significant Management Function should care about CASS 7
- Cashfac’s Accounting Hub: what it is and how it works
- 10 features of the Cashfac Accounting Hub to meet CASS Operational Accounting Challenges
- How the functionality of a CASS Accounting Hub can help a firm achieve the real-time client money accounting requirements needed for CASS 7