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Unlike most accountants, busy season for FINOP’s and Broker/Dealer accountants does not coincide with tax season. Nike Air Max Thea Homme Bleu New Balance 997 femme Rather, it relates to the regulatory requirement to submit annual audited financial statements within 60 days of the Firm’s fiscal year end. Air Jordan 7 Homme Adidas Superstar Femme Rouge buy ffxiv gold As such, January and February are our busy seasons, where we are closing the month of December, the 4th quarter, and the year as a whole. Nike Air Max Thea Homme Rouge Audit requests start as early as October of the previous year, but most of the heavy lifting comes in January and February. ugg classic cardy It used to be different. louboutin soldes nike air zoom pegasus 33 femme adidas gazelle homme noir ugg australia nike internationalist homme The auditors did it all. 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So now, you have a B/D that contends with more and more regulation each year, smaller and smaller margins/fees, more demanding reps and employees, and they have to pay their auditors and consultants more money to get a document that typically verifies what they already know…that their books and records are just fine. asics soldes pas cher Asics Gel Quantum 360 Homme Nike TN Femme Nike Air Max 90 Homme New Balance 577 femme nike free 5.0 uomo There are plenty of reasons I believe that a lot of this makes no sense, and that small B/D’s should probably not be subject to PCAOB standards (or at least not full blown standards). asics gel lyte 3 Canada Goose France Auditors are required to express an opinion on the financial statements they audit, but then they are required to turn over that opinion to the B/D, who will include it with their financials and submit it to the regulators. nike air max 2015 donna Chaussures New Balance How does the auditor know that their opinion letter is going on the financials they audited if they aren’t allowed to bind the financials? 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Air Jordan 7 bambini Canada Goose Gilet Femme It’s never really made sense to me how a B/D can pay for an independent audit and expect to really get an independent audit. Nike Air Max Thea Femme Rose Parajumpers Femme New Arches Where does the accounting firm’s interests lie? In getting paid! If you have a disgruntled B/D, they are going to lay into their service provider – the auditors, and the auditors then have the choice of pissing off their client or strictly complying with regulation. Adidas Zx Flux Femme Rose Asics Gel Kinsei 6 Homme New Balance 530 femme ffxiv gil At the end of the day, and at the end of a very grueling busy season, we have a flawed system. A system, that ultimately is supposed to be designed to protect the investor…to protect the clients of the B/D.
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