A Comedy of Errors

Not Shakespeare but two offerings from our friends at the LSC this morning.
Firstly a CCA outcome with the audit rating a percentage point (and over 1,000 English pounds on recoupment) out. They are also 2 pence out on the calculation of the amount allowed. Obviously the former is more important than the latter and even so you might think neither of these is too significant. However if this is a fault in the audit software rather than a manual entry error then the impact upon other firms might be more significant.
Next up we are told (by way of standard letter) that neither our clients nor ourselves can attend an SFP appeal. A casual read of the SFP Arrangements Part 4, 4.5 suggests otherwise. Some standard letters to amend then.
You are now anticipating me taking the moral high again aren’t you. Sorry I cant resist – firms get slaughtered at audit for mistakes let alone ones which appear systematic failures. And given that erroneous standard letters are receiving such approbation on Peer Review…..
Stop me if you’ve heard this one before.

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