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Home Publications Accounting & Auditing Key Topics and Industries Brokers and Dealers in Securities
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Brokers and Dealers in Securities 

Published March 18, 2013

Whether you are a financial statement preparer or auditor it is critical to understand the complexities of the securities industry as it relates to the various functions that broker-dealers may perform and the accompanying rules and regulations. AICPA publications provide information on recent developments, guidance, practice aids, and illustrative examples for the common accounting and audit practices for broker-dealers in securities including
  • broker-dealer functions, books, and records.
  • regulatory information and requirements, including reporting considerations.
The broker-dealer industry is undergoing significant change. AICPA publications offer clear and practical guidance on recent developments. SEC regulatory requirements, and the related reporting is discussed along with relevant accounting and audit topics of particular importance to audits of broker-dealers.

Finally, find comprehensive examples of
  • financial statements, notes, and supplementary schedules.
  • reports required by industry regulators.
For more information on the industry and the AICPA's commitment to provide updates and guidance, visit the Stockbrokerage and Investment Banking Expert Panel's webpage.
   

Audit and Accounting Guide Brokers and Dealers in Securities

  

Availability

This AICPA Audit Guide has been fully conformed to reflect the new standards resulting from the Clarity Project. This year’s edition of the guide fully incorporates the clarified auditing standards into all guide content, so that auditors can further their understanding of the clarified auditing standards. The clarified auditing standards are effective for audits of financial statements for periods ending on or after December 15, 2012 (calendar year 2012 audits). Auditors should carefully apply the relevant guidance until the clarified auditing standards become effective for the auditors’ engagements.

Publication Excerpts (available to AICPA Members)


Audit Risk Alert Financial Institutions Industry Developments: Including Depository and Lending Institutions and Brokers and Dealers in Securities

Availability

This alert is intended to be used in conjunction with Audit Risk Alert General Accounting and Auditing Developments, which explains important issues that affect all entities in all industries in the current economic climate. General topics include recently issued guidance and emerging audit risks resulting from external economic factors.


Practice Aid Audits of Futures Commission Merchants, Introducing Brokers, and Commodity Pools

Availability


AICPA Online Professional Library
When you subscribe to any one of the many subscription options on AICPA Online Professional Library, you're not only getting access to the most up-to-date guidance and tools, you are also linked to all of the relevant and related literature, including the FASB and GASB libraries.

Many publications and libraries may be of value to those interested in guidance related to stockbrokerage and investment banking entities:

Guidance contained in the AICPA Online Professional Library has also been grouped into larger sets including varying levels of guidance. The following may be of interest to those seeking information and guidance on stockbrokerage and investment banking entities:




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