What is the difference between LBMA and LPPM Certification?
LBMA (London Bullion Market Association) is for gold and silver and LPPM (London Platinum & Palladium Market) certification is for platinum and palladium.
Is SCS Global Services an approved service provider of LBMA and LPPM?
Yes, several members of our staff have completed the mandatory ISAE 3000 training for accreditation to perform LBMA and LPPM audits, and SCS is an approved service provider.
How long is my certificate valid?
A LPPM Certificate is valid for 3 years and an LBMA Certificate is valid for 3 years. Annual surveillance audits are required to maintain your certificate.
What are the costs and fees associated with certification?
Prices for SCS auditing services varies depending on the location, size and complexity of your operation. Please contact us for a custom quote and to determine if certification is right for you.
What sets SCS apart from other LBMA certification bodies?
In addition to LBMA and LPPM, SCS also conducts assessments for harmonized standards including the RMI and RJC.
Are LBMA and LPPM assurance engagements onsite or virtual?
Assurance engagements are conducted in-person; virtual audits are allowed under special circumstances and must be approved by the LBMA/LPPM.
We’re new to the certification process. Does SCS provide guidance on the LBMA and LPPMN certification requirements and certification process?
SCS currently does not provide guidance, however, the LBMA and LPPM offer toolkits to all members undergoing an assurance engagement.
Do we have to be members of LBMA/LPPM to become certified?
Yes, refiners must be Good Delivery approved and listed to become certified.
What is the Good Delivery List and how do we become part of it?
The LBMA and LPPM own and manage the Good Delivery Lists, requirements must be met regarding fince ounce weight, purity, marking and surface quality of good delivery bars.
What metals are in scope?
Refiners that produce gold and silver bars, or platinum and palladium plates and ingots.
How do I know if I need a reasonable or limited assurance engagement?
Generally, all initial engagements must be reasonable assurance. Limited assurance engagements are conducted every other year. Determination is subject to LBMA/LPPM directive.