The PCAOB recently published a new staff document titled “Broker-Dealer Audit Focus: Review Engagements Regarding Exemption Reports,” targeting auditors of broker-dealers.
The publication is the latest addition to a series that aims to provide practical information to auditors of broker-dealers.
The staff document includes reminders based on Attestation Standard No. 2, perspectives on frequent audit deficiencies, and examples of effective practices observed by PCAOB staff.
Attestation Standard No. 2 outlines the requirements for auditors reviewing exemption reports prepared in accordance with SEC rules.
With this new guidance, the PCAOB aims to identify any conditions that may lead to misstatements in broker-dealer assertions. Learn more.