IFAs applaud FSA proposal to cut audit requirements

Bhupinder Anand, managing director of Anand Associates in London, says: “It is good news for small firms, particularly those who don’t handle client money.” He believes the audit requirement is an unnecessary expense for IFAs who are no different to their neighbouring businesses. He adds: “It is refreshing to see the FSA finally helping small IFAs.” Likewise, Rod Shakespeare of Rosa Lodge Financial Management in Worcestershire, states: “To me it is really important because audits are an additional cost for IFAs running a limited company.” He believes it is unfair that sole traders a...