Ernst & Young, one of the biggest auditing companies in the world, and part of the “Big Four”, performed the procedure regarding financial information of AMarkets and evaluated the coverage of the Clients funds. The auditors were given full access to all the trading platforms of the company for an independent scrutinisation of the company’s level of accountability and transparency towards its clients. Additionally, the auditors received statements of the company’s cash balances from banks, payment systems and liquidity providers, in order to analyse the brokerage’s capital adequacy.
As a result, the auditors confirmed that the amount of money in the company’s accounts is more than the amount of its liabilities to clients!
Ernst & Young — is an auditing and consulting company (Big4) with its headquarters based in London. The company has 728 offices in 150 countries, and 230 thousand personnel in total. Ernst & Young regularly runs the audits of companies such as Ikea, McDonald’s, Porsche, London Stock Exchange, Facebook, Google, BP, etc.
Anatoly Golubev, the CFO of AMarkets, commented the following to this news bit:
“In terms of openness and transparency of a brokerage’s activity, this is an unprecedented step in the industry, which aims to confirm the financial stability of AMarkets; this is evidenced by the careful safe-keeping of the clients’ funds, and absolute willingness to comply with any request from client for fund withdrawal.”