Past event

TC4 Assessment

Date:	10/02/2012
Aimed at:	Brokers
Venue:	Pinners Hall, 105-108 Old Broad Street, London EC2N 1EX

Overview

The current economic climate and continuing soft insurance market is putting real pressure on insurance intermediaries' cash flows and balance sheets. With many firms carrying significant levels of debt and failing to undertake sufficiently robust TC4 assessments, the FSA is imposing some serious financial restrictions on those who fail to come up to the mark.

Littlejohn is aware of issues where firms have come under pressure, where the definition of liquidity and asset strength has become confused, and where issues with either the balance sheet or cash flow have had unexpected consequences on firms' TC4 position.

Our seminar looked at the components of an intermediary's finances and gave our views on how each of these can be assessed in the context of TC4. We also suggested a number of stress tests you can carry out to demonstrate TC4 compliance.

We also set out your statutory auditors' responsibilities in respect of going concern, and whether an audit opinion on your financial statements can give any comfort to your stakeholders on TC4.