Audit and Assurance Services - Broker Dealer Audit Service

Audit and Assurance Services Audit and Assurance Service Broker Dealer Audit Service

Broker Dealer Audit Service
Broker Dealer Audit Service

Broker-Dealers operate in a highly regulated environment. When broker-dealers file their annual reports with the SEC, they are required to include their financial statements and supporting schedules, along with audit reports thereon prepared by PCAOB-registered public accounting firms.

Broker-dealers also are required to file exemption reports, along with review reports that are prepared by the same firms that prepared the audit reports. The audits and reviews are required to be performed in accordance with PCAOB standards.

Our firm provides audit services to over 20 non-carrying broker dealers throughout the United States. We are registered with the Public Company Accounting Oversight Board (“PCAOB”). To ensure quality, we use the latest industry leading audit practice aids to serve our clients. We make sure that the engagements get done efficiently and effectively.

Surprise Custody Examination for RIA (Registered Investment Advisers)

We provide Surprise Custody Examination services for Registered Investment Advisers (RIA) who have custody per Rule 206(4)-2 (the Custody Rule) of the Investment Advisers Act of 1940.

If you are a trustee on client accounts, a general partner of an unaudited fund, have client log-in credentials, provide bill-pay services, have power of attorney over a client’s assets, have the client’s checkbook and are authorized to write checks and sign client’s name, or have another qualifying events, you are required to obtain an annual surprise examination by an independent accounting firm registered with PCAOB.

The surprise custody examination includes the examination of the books and records as they relate to the registered investment advisers’ custody and confirmation with the qualified custodians and clients.

Audits, Reviews and Compilations

We provide financial reporting on all three levels of assurance depending on your company's needs. The levels of service available include:

 Audit

An audit is the highest level of financial statement service that a CPA firm provides. It provides reasonable assurance whether the financial statements are presented fairly, in all material aspects, in accordance with general accepted accounting principles (GAAP).

 Review

A Review is analytical procedure conducted with limited assurance. It gives a lesser degree of assurance than an audit.

 Compilation

In compiling financial statement, we rely on our knowledge of accounting principles and a general understanding of client’s business, present information and express no opinion or assurance on the statements. It is used primarily for internal use. Banks often require compilations from an independent CPA as part of their lending covenants.