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Service · 03

Independent verification as a discipline.

Holdings are reconciled monthly, audited every quarter by Bureau Veritas, and reported to the client in plain English. Every bar in our vault is accounted for at every point in its custody.

Audit cadence Quarterly, independent
Reconciliation Monthly, physical
Auditor Bureau Veritas

The reporting cycle.

We believe a client should never have to ask what they hold or where it is. Our reporting is structured to anticipate that question, not respond to it.

— Monthly
Client statement

On the first business day of each month, the client receives a statement of holdings reconciled against the previous month's. The statement records every bar by serial, refinery, weight, and assay, alongside any movements during the period. Storage charges and adjustments are itemised and dated to the day.

— Quarterly
Independent audit

Bureau Veritas conducts a full physical audit of the vault each quarter. The audit reconciles the inventory against our ledger and the aggregate of all client statements. The audit certificate is countersigned by an Aurelian officer and a Bureau Veritas inspector. A copy is available to any client on request.

— On request
Bar provenance

Clients may ask for a chain of custody report on any individual bar in their account. The report traces that bar from its refinery of origin through its arrival into our custody, including all movements, audits, and assay confirmations along the way. Reports are prepared by hand and typically delivered inside five business days.

— Annually
Insurance certificate

Our Lloyd's of London marine and specie cover renews each year. Every client receives a current certificate naming them as loss payee for the value of their holdings, valid for the policy year.

What every statement contains.

— 01 Position

Holdings ledger

Every bar by serial number, refinery mark, gross weight, fine weight, assay percentage, and the date of intake into our custody.

— 02 Movement

Period activity

All deposits, withdrawals, transfers, and reallocations during the statement period, each with a timestamp and signing officer.

— 03 Charges

Storage fees

The monthly storage charge against the account, the agreed rate, and any adjustments. Settled and outstanding balances are shown separately.

— 04 Verification

Reconciliation note

Confirmation that the physical inventory has been reconciled against the ledger for the period, signed by the senior vault officer on duty.

Audit principles.

  • Independence. Our auditors are not retained on commission and have no commercial relationship with us beyond their audit engagement.
  • Physical inspection. Each quarterly audit involves a full count of bars, by hand, against the ledger. Sampling is not used.
  • Chain of evidence. Every audit report is filed with the FCA on request. Discrepancies must be reported within 48 hours.
  • Auditor rotation. The lead inspector at Bureau Veritas changes every two years to avoid familiarity bias, in line with international best practice.

Statement access.

Clients access their current and historical statements through the private portal. Documents are provided in PDF and may be downloaded for personal records or onward use with a tax adviser or legal counsel. Hard copies are available at the client's request and delivered by registered courier.

To request a sample statement.