Annual Returns Checklist
IoM incorporated deposit takers only
For use by licenceholders with a year-end on or after 1 January 2017
Licenceholder name:
FSA receipt stamp:
IOMFSA use only
Date checked and initials
Is the auditor’s opinion on the Financial Statements modified and/or
qualified or does the auditor’s report contain an emphasis of matter
paragraph?
Yes / No
If the client holds clients’ money / investments are there any exceptions in
the Clients’ Assets Report?
Yes / No / N/A
Has the auditor highlighted any significant and/or material non-compliance
or other issues in its certificates/ letters to the Authority?
Yes / No
Database updated – ARR submissions /returns
Yes / No
Database updated – Accounts year-end date
Yes / No
Database record created and updated - ADBR
Yes / No
Item (to be submitted within 4 months of the year end)
Present*
FSA use
 = yes, X = no
N/A = not applicable
Rule/Civil
Penalty
Annual Regulatory Return (“ARR”)
1. ARR form with signed declaration.
8.31 - CP
2. Group structure chart showing the name and jurisdiction of all
companies and/or trusts within the group.
8.31(4)(a) CP
3. Management and staff structure chart including key person
responsibilities.
8.31(4)(b) CP
Annual Financial Return (Part 2 of the Rule Book)
4. Audited annual financial statements (originals verified by the
auditor or a copy of such originals).
2.8 – CP
5.6 & 5.10
5. Audited annual financial statements of subsidiaries (originals
verified by the auditor or a copy of such originals), which must be
as at the same date as those of the licenceholder, except shelf
2.13(1)(a) CP
January 2017
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IOM incorporated deposit taker
Isle of Man Financial Services Authority
companies and those which; (a) the licenceholder has confirmed
are non-trading, and, (b) the auditor has confirmed that nothing
has come to its attention that suggests the contrary.
6. Audited annual financial statements of associated companies
(originals verified by the auditor or a copy of such originals), which
must be the most recently produced, except shelf companies and
those which; (a) the licenceholder has confirmed are non-trading,
and, (b) the auditor has confirmed that nothing has come to its
attention that suggests the contrary.
2.13(1)(b)
7. A statement detailing the calculation of the large exposures
capital base. This requirement ceases to apply on 1 July 2017.
2.21(1)(a)
8. A detailed statement of profit and loss relating to its own
transactions (if not included in the annual financial statements).
2.21(1)(b)
9. A reconciliation of all material differences between the set of
deposit taking returns as at its annual reporting date, and the
Statement of Financial Position and Statement of Profit and Loss.
2.21(1)(c)
10. Do the audited annual financial statements include the Page
following in the notes? Please include the page number on which number
they appear —
(a) an analysis of assets and liabilities by maturity date;
(b) the gross amount of all loans and advances due from
intra-group companies;
(c) the gross amount of all loans and advances due from,
and guarantee commitments entered into on behalf of
shareholders and directors and managers;
(d) in respect of large exposures otherwise than to deposit
takers, the number and total value of exposures which
individually exceed 10% of the total of the large
exposures capital base, loans to related parties being
aggregated.
2.21(2)
11. Does the Statement of Profit and Loss include, or have annexed
to it, statements of; (a) total income for the year; (b) interest
income and expenditure; and (c) the effect on the Statement of
Profit and Loss of provisions for bad and doubtful debts.
2.21(3)
12. Confirmation that the audited annual financial statements are
available for public inspection (including notices in offices) and
have been published on the Web.
2.22
Audit (Part 5 of the Rule Book)
13. Either (i) Management letter or equivalent; or
(ii) Auditor’s confirmation that none was issued
IF a management letter is enclosed, a statement of what action the
licenceholder is taking to implement recommendations (this may
January 2017
5.8(1)(2) CP
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IOM incorporated deposit taker
Isle of Man Financial Services Authority
be contained in the management letter) and if not, its reasons for
not doing so.
14. Copy of the auditor’s letter on sample set of deposit taking
returns for a quarter other than the year-end.
5.14(3)-CP
15. Comments on any exceptions identified by the auditor in
reviewing the sample set of deposit taking returns.
5.14(4)-CP
16. Auditor’s letter re compliance with; (a) Rule 2.12; (b) Rule 2.18;
and, (c) Rule 2.19.
5.15(1)
CP
Other information
17. Notification that the responsible officers have reviewed and
approved the policies referred to in rule 8.6(1)(a) and are satisfied
that they are up to date and appropriate.
8.33 and
refer ARR
disclosure
18. Notification that the directors have reviewed and approved the
following policies during the financial year and are satisfied that
they are up to date and appropriate: credit risk, large exposures,
arrears and provisions, liquidity, foreign exchange risk and interest
rate risk.
8.47 and
refer ARR
disclosure
19. Auditor’s letter1.
5.16
Item (to be submitted within 6 months of the year end)
Present
FSA use
Rule
 = yes, X = no
N/A = not applicable
20. Audited annual financial statements of the immediate parent
company, trust or foundation (originals verified by the auditor or a
copy of such originals).
2.10(1)(a)
21. Financial statements and other confirmations in respect of any
other companies as required by the Authority (originals verified by
the auditor or a copy of such originals).
2.10(1)(b)
22. A Clients’ Assets Report and Procedures2 including the relevant
Auditor’s Confirmations in the format specified by the Authority
(where the licenceholder controls clients’ assets)1.
5.18
1
2
Additional item for licenceholders also conducting Class 2, 3, 4, 5, 8(2)(a) or 8(4) activity
See Compliance Support page of the Authority’s website for a template Clients’ Assets Report and Procedures.
January 2017
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