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Audit Checklist?

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Nov 11, 2010 10:45 am

Hello All,

I was wondering if anyone knew of or has access to some kind of Audit Checklist that you use at your firms to prepare for audits from either your B/D's, State, SEC, or FINRA. I have searched high and low on the internet with no success - If it is on this forum I couldn't find it as well.

I have found a couple for RIA's, but I am an independent registered rep and most of the information on the RIA checklists would not apply to my firm. I would like to have a system in place to ensure everything is (at least almost everything..)  in place in the case of an audit.

I am in the process of re-building the management side of y practice and would enjoy a "checklist" for my OSJ to go over each month, etc.

Any help would be greatly appreciated. Thank you all in advance.


Nov 11, 2010 1:25 pm

Try "Brokers and Dealers in Securities - AICPA Audit and Accounting Guide" and/or "Investment Companies -  AICPA Audit and Accounting Guide". It's what your CPA will use and regulators are likely to follow the same guidelines.

They're a fascinating read so only open them when the insomnia is a real issue.

Nov 11, 2010 7:14 pm

Can you post a link or info for what you found on the RIA side?

Nov 11, 2010 7:51 pm

Arri, I'd suggest you might contact the State you're in. Financial services department, and simply ask them about their check list. Tell them you're trying to set up a shop that reaches their highest standards. I've found that my state has a few guys, and they are pretty good folks.