New Broker-Dealer Audit Rules: An Update Direct from a PCAOB Regulator Self-Study Webinar (1.5 Hours)

New Broker-Dealer Audit Rules: An Update Direct from a PCAOB Regulator Self-Study Webinar (1.5 Hours)

CPE Credit: 1.5 Hours

Price: $129.00

NASBA Field of Study: Accounting



In this informative self-study webinar, you will quickly be brought up to speed on the PCAOB’s latest report on recent inspections related to audits of broker-dealers, and gain a number of useful tips and valuable insights to stay current and compliant.


•  Inspection Program Objectives
   – Compliance with Board and Commission rules and PCAOB Standards
   – Determining scope and elements of permanent inspection program

•  Firms Auditing Broker-Dealers

•  Inspection Results
   – By the numbers
   – By category
   – By audits per firm
   – By area

•  Review Engagements
   – Inquiries
   – Understanding exemption provisions
   – Evaluation of evidence from audit and review procedures

•  Examination Engagements
   – Testing Internal Control over Compliance (ICOC)
   – Accuracy and completeness of information
   – IT and automated application controls
   – Performing compliance tests

•  Net Capital Rule—Supporting  Schedule
   – Adjustments to net worth
   – Allowable assets and assets not readily converted to cash
   – Security positions and undue concentration charges
   – Operational charges and other deductions

•  Revenue
   – Information used as audit evidence
   – Relevant assertions
   – Audit sampling

•  Presentation & Disclosure
   – Revenue
   – Related parties
   – Going concerns

•  Inspections Status
   – Selection of firms and broker-dealer audits
   – Remote inspections
   – Inspection focus
      – Quality control
      – Audits of financial statements/supporting schedules
      – Review engagements (applying SEC guidance)

•  Looking ahead
   – Financial responsibility rule developments
   – Financial statement audit risks
   – Net capital
   – Areas of potential impact from COVID-19
   – New and amended auditing standards


LEARNING OBJECTIVE  To update financial professionals working for broker-dealers on the latest rules and regulations from the PCAOB,
and share the best ways to handle these rules.


Detailed Learning Objectives

Identify the current objectives of the PCOAB’s audit firm’s inspections program

Recognize various PCAOB inspection results from the latest inspections of audits of brokers and dealers

Recognize the PCAOB’s upcoming inspection program’s focus

Identify the PCAOB’s identified financial statement audit risks