Broker-Dealer Audit Quality – 2020 Update

Thoughtware Alert Published: Oct 06, 2021

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The PCAOB recently released findings from its 2020 broker-dealer inspection program. The PCAOB inspected 65 firms that audited SEC-registered broker-dealers and reviewed 105 financial statement audits and attestation engagements, including both compliance and exemption reports. Since the program’s inception, the PCAOB has observed lower percentages of deficiencies for accounting firms that also audit issuers or perform audits for more than 100 broker-dealers. This article provides details on the findings.

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