Joel Beck

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About The Beck Law Firm, LLC

  • Joel Beck, a former NASD Department of Enforcement lawyer, formed The Beck Law Firm, LLC in 2007. Joel's practices focuses on three main areas: 1) broker-dealer and registered investment adviser regulation/compliance, regulatory investigations and enforcement actions, and arbitration cases, 2) business formations and small business legal needs, and 3) basic estate planning.

The Disclaimer

  • The Beck Law Firm, LLC and Joel Beck, the author of this blog, provide this material for informational purposes only. While we believe the content to be accurate, we make no guarantee to that effect. Use of this blog does not create an attorney/client relationship and The Beck Law Firm, LLC does not represent you unless and until we have entered into a written representation agreement. The hiring of an attorney is an important decision and should not be based upon advertisements, including websites and blogs. Please contact us for additional information about our qualifications before making a decision.

Comments Policy

  • I welcome comments on most postings, and like to keep the discussion going. Comments are moderated and will not post until publisher review. Comments that don't relate to the topics and subject matter of the blog, and seek only to provide links for other websites, will not not be published. The Beck Law Firm, LLC and Joel Beck are not responsible for contents of the published comments, and do not necessarily share the same views as the commenter.

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August 20, 2012

PCAOB Releases Interim Inspection Report on Audits of Broker-Dealer

It looks like some annual audits of broker-dealers may become a little more difficult, if auditing firms review a report released today by PCAOB and work to ensure that their audits are problem free.  The Public Company Accounting Oversight Board today released a press release and their  interim inspection report announcing its findings from examinations of audits of broker-dealers.  

This inspection program focused on a small number of auditing firms and broker-dealers and is admittedly a very small sample size.  PCAOB identified deficiencies relating to audit procedures related to computation of net capital requirements as well as customer reserve calculations, audits of financial statements, as well as issues with auditor independence.  Much more detailed information is contained within the report.  If you're involved in financial operations - including having some responsibility for your firm's annual audit - you want to take a look at this.  

 

 

Posted at 03:37 PM in Broker-Dealer/RIA Compliance Matters, Broker-Dealer/RIA Legal Issues |