Don't Forget: Broker-Dealer Annual Audit Requirements 

Published November 22, 2010

In a letter to the AICPA’s Stockbrokerage and Investment Banking Expert Panel, the Securities and Exchange Commission outlined the existing requirements that apply when conducting the “review of the accounting system, the internal accounting control and procedures for safeguarding securities.” The requirements provide that broker-dealers must file an accountant’s report from a registered public accounting firm covering the annual financial statements and supporting schedules. Additional information and requirements can be found in the SEC’s letter and the AICPA Accounting and Auditing Guide Brokers and Dealers in Securities.


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