CASS 5 Audits 2025

Tom Hoar, Technical Specialist, FCA
Tom is a Technical Specialist in the FCA’s CASS Supervision team and has been in CASS Supervision since 2012, joining from the industry having performed various operations roles in the banking sector. Tom has had the privilege to speak to the largest institutions holding trillions of pounds of assets, and also the smallest firms where £50 is a lot of money to their customers. Tom regularly speaks with firms which are in some form of distress, and the greater the CASS compliance the less likely it is to see a disorderly failure. Going forward, Tom expects to be kept busy with CASS 15 and also by Policy colleagues with their ongoing crypto custody work.

Paul Goldwin, Partner Financial Services, PKF
Paul has been advising the insurance intermediary community for over 30 years and acts for London market and international brokers and regional insurance intermediaries ranging in size from start-ups to Top 50 brokers. Paul has extensive experience of advising clients on the CASS 5 client money rules, RMAR regulatory reporting and TC2.4/Wind down planning. Paul is RI on the majority of the firm’s larger private equity backed insurance intermediaries for both statutory and Client money audits, some of which have complex CASS 5 landscapes, and lectures regularly on client money and other regulatory matters both internally and externally.

Robin Malacrida, Audit Director, Grant Thornton
Robin is an Audit Director within Grant Thornton's Financial services audit practice. He has over ten years of post-qualification experience in the financial services industry.

Throughout his career Robin has developed significant experience in the Insurance Broking industry as a statutory auditor. His client experience includes working with a range of intermediaries from small independent brokers, Lloyds brokers to large fast-growing P.E. backed aggregators and MGAs.

His CASS 5 experience includes being an active member of the ICAEW CASS 5 working party and delivering Reasonable assurance reporting across a range of clients of varying size and complexity.

George Williams, Director in Regional Financial Services, Deloitte
George has over 12 years of experience working in Financial Services and Client Money (CASS) external audits, with a broad experience across the industry including retail lending, insurance intermediaries and investment managers. George has been a leader in Deloitte’s CASS 5 audit quality review team for the last 6 years and is a member of the ICAEW’s CASS 5 sub-working party that discusses observations and insights identified across the insurance intermediary industry.

Naresh Jagru, FCA Technical Desk Lead, RSM

Polly Tsang, Senior Financial Services Regulatory Manager Financial Services Faculty, ICAEW

Prior to joining the ICAEW, Polly specialised in structured finance and asset backed securitisation at PwC, helping firms raise debt market funding and buy/sell asset pools. She qualified as an ACA with PwC London within investment management and banking and capital markets. She is interested in exploring the risks and opportunities in regulating financial services in the post-Brexit landscape, particularly in evolving areas such as ESG, cryptoassets and AI.

Bunmi Oluitan, Forvis Mazars
Bunmi is a Senior Manager at Forvis Mazars, bringing over a decade of specialised experience in the application of the Client Assets Sourcebook (CASS) across the financial services sector. Her career spans a wide range of institutions—including banks, asset managers, broker-dealers, payment service providers, and e-money firms—where she has led and delivered complex assurance and advisory engagements.
Renowned for her deep technical expertise and strategic insight, Bunmi offers a nuanced understanding of the operational frameworks and market practices that underpin CASS compliance. Her work has positioned her as a trusted advisor to clients navigating regulatory expectations and evolving industry standards, making her a valuable voice in shaping best practices across the sector.