(1) A fund service provider shall arrange for an external auditor to prepare a report (in this Part referred to as an "assurance report") in relation to that fund service provider's safeguarding of investor money at least on an annual basis.
(2) The fund service provider shall ensure that the external auditor appointed for the purposes of paragraph (1) -
(a) has the necessary resources and skills relating to the business of the fund service provider,
(b) receives the fund service provider's full cooperation in a timely manner in relating to conducting the investor money examination,
(c) provides an assurance report as to whether, throughout the period to which the investor money examination relates -
(i) the fund service provider has maintained processes and systems adequate to meet the requirements of this Part,
(ii) the fund service provider was compliant with this Part as at the period end date,
(iii) any matter has come to the attention of the external auditor to suggest that