File: APC 12-69(2), 1: 'Client assets'

Scope and Content

Contains a manuscript amended draft of the APC practice note, Client assets - Guidance for auditors of investment business, bearing the inscription, "Changes after APC meeting 26.11.90" in the top right hand corner of the contents page; a clean typescript of the note; correspondence between the secretary and members of the Financial Services Act Working Party 2 [FSAWP2], and comments from various individuals on the practice note; manuscript notes concerning the drafting of the practice note.

The file also contains material relating to the drafting of a letter from the Consultative Committee of Accountancy Bodies [CCAB] chairman to auditors of investment businesses regarding the note, along with a final copy of the CCAB chairman's letter; a copy of a letter from the working party chairman, to the Director of the Financial Regulation Division of the Securities and Investments Board [SIB] in response to the latter's letter [which can be found in APC/1/43/19] requesting that a paragraph be removed from the APC's practice note; a proof copy of the practice note; drafts, and a published copy, of the CCAB press release to accompany the publication of the note; a published copy of the practice note.