How to meet the Operational Accounting Challenges for Client Asset Protection. Discover how the functionality of a CASS Accounting Hub can help a firm achieve the real-time client money accounting requirements needed for CASS 7.
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.
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