• Broker-Dealer Annual Audits and Accounting Standards: SEC and PCAOB Developments
  • December 21, 2010 | Author: Holly H. Smith
  • Law Firm: Sutherland Asbill & Brennan LLP - Washington Office
  • As the year closes, there are three recent broker-dealer financial and operational developments that we believe merit your attention. First, the Securities and Exchange Commission (SEC) recently issued a letter to the AICPA (American Institute of Certified Public Accountants) concerning 2010 broker-dealer annual audits. Second, the Public Company Accounting Oversight Board (PCAOB) voted last week to propose new rules that will impose a fee on certain broker-dealers to offset PCAOB examination costs and also announced the adoption of an interim program to inspect public accounting firm audits of broker-dealers.