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SUMMARY:Workshop: FRC Safeguarding Audit – Industry Engagement on Interim Guidance
DESCRIPTION:Workshop: FRC Safeguarding Audit – Industry Engagement on Interim Guidance\n Event details \n\nDate: 3rd February 2026\n\n\nTime: 8:30 – 11:00 GMT. \n\n\nVenue: ICAEW Member’s Hall (close to Moorgate tube station)\n\n\nBreakfast and refreshments: Breakfast\, tea and coffee will be provided. Please inform us if you have any dietary requirements as soon as possible. \n\n  \nAgenda \n\n8:30: Guests arrive\n\n\n8:30 – 9:00: Networking and breakfast\n\n\n9:00 – 9:30: Presentation of FRC Safeguarding Audit – What to expect \n\n\n9:30 – 11:00: Roundtable discussion on the FRC’s draft ‘interim guidance’\n\n  \nBackground \nFollowing the Financial Conduct Authority’s publication of Policy Statement (‘PS’) 25/12\, it has mandated that all Authorised Payment Institutions and E-Money Institutions (safeguarding >£100k of relevant funds) must undergo an annual mandatory safeguarding audit\, effective from 7 May 2026.  \nAs a result\, the Financial Reporting Council (‘FRC’) is in the process of drafting a new Safeguarding Assurance Standard that qualified Safeguarding Auditors must follow to conduct its audit. However\, in the interim\, considering the tight timescale to the 7 May 2026 go-live date\, the FRC is developing an ‘Interim Guidance’ for qualified Safeguarding Auditors. \nThis event from The Payments Assocation’s Regulatory Working Group\, co-hosted by Gladius Assurance\, will explore the FRC’s draft ‘interim guidance’. We are seeking feedback from a wide range of stakeholders at Payment / E-money firms. By attending\, members will have the opportunity to ensure their views are considered on this significant development. \n  \nWhy attend \nThe workshop will cover\, on a Chatham House rules basis\, the following areas: \n\nGain an understanding of the FRC’s draft ‘Interim Guidance’ proposed audit testing scope.\nUnderstand its approach to proportionality and materiality for the Safeguarding Audit.\nShare your views on operational friction points for Payment / E-Money firms.\nShare your feedback on auditor availability and access.\nConsolidate and feed concrete industry views back to the FRC working group.\n\nTarget Audience \n We encourage the following attendance from regulated Payment / E-Money firms: \n\nCFOs\nSafeguarding Officers\nHead of Treasury\nHead of Compliance\nHead of Internal Audit\nLegal\n\nWhat next? \nInsights gleaned from the roundtable will be summarised in a response that we submit to the FRC. \n\nThis event has limited space and is on a first come first serve basis.
URL:https://thepaymentsassociation.org/event/workshop-frc-safeguarding-audit-industry-consultation-on-interim-guidance/
LOCATION:One Moorgate Place\, London\, EC2R 6EA\, One Moorgate Place\, London\, EC2R 6EA\, London\, EC2R 6EA
CATEGORIES:Policy/Stakeholder Engagement Events
ATTACH;FMTTYPE=image/png:https://thepaymentsassociation.org/wp-content/uploads/2026/01/Workshop-FRC-Safeguarding-Audit-–-Industry-Consultation-on-Interim-Guidance-2.png
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