文档介绍：窗体底部
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Auditing Securities modities Broker-Dealers
OVERVIEW OF THE INDUSTRY 
LAWS AND REGULATIONS 
(a) Net Capital (SEC Rule 15c3-1)
(b) Customer Protection (SEC Rule 15c3-3)
(b1)  Proprietary Accounts of Introducing Brokers 
(c) Financial Reporting and Annual Audit Requirements (SEC Rule 17a-5)
(i) Regulatory Reporting
(ii) Audited Financial Statements
(d) Government Securities Act of 1986
(e) Commodity Futures mission
(f) Other Rules and Regulations
ACCOUNTING PRINCIPLES AND PRACTICES 
RISK FACTORS AND AUDIT REACTION
TYPICAL TRANSACTIONS 
(a) Trading Cycle
(b) Financing Cycle
(c) Underwriting Cycle
SUBSTANTIVE TESTS OF BALANCES 
(a) Special Reserve Bank Account
(b) Receivables from and Payables to Brokers and Dealers and anizations
(c) Omnibus Accounts
(d) Deposits with anizations
(e) Receivables from and Payables to Customers
(f) Firm Inventory Accounts
(g) Arbitrage Transactions
(h) Securities Positions
(i) Suspense and Error Accounts
(j) Dividends Receivable and Payable
(k) Exchange Memberships
(l) Bank Loans
(m) Secured Borrowings
(n) Subordinated Liabilities
(o) Open mitments
(p) Soft-Dollar Arrangements and Order Flow Payments
(q) Underwriting Agreements
(r) Interest, Dividends, and Rebates
(s) Derivatives
(t) Supplementary Information Under Rule 17a-5
(u) Other Areas
 
OVERVIEW OF THE INDUSTRY
Before 1999, the securities industry was shaped most significantly by the 1929 stock market crash and the economic and political events that followed it. After the crash, broker-dealers (also referred to as securities firms or, simply, firms) were given the exclusive franchise in three areas previously dominated by banks, namely, underwriting, dealing, and the financing of customer securities transactions (., for equities and certain segments of the fixed e markets, namely, commercial paper, municipal revenue bonds, and corporate bonds). In November 1999, this changed with the signin