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Safeguarding Audit

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A safeguarding audit is an annual audit conducted by regulator bodies to review fund segregation operations of PIs or EMIs. After the audit is completed, the institution receives a report with gap analysis and remediation plan from the regulator.

The institution is expected to provide the auditor with:

● A manual for safeguarding operations and controls
● A report documenting reconciliation processes and controls
● Statement and acknowledgement letters
● Insolvency event precautions