Gov't Inspection Finds Problems In Broker-Dealer Audits

Law360, New York (August 20, 2012, 8:20 PM EDT) -- The federal government's accounting watchdog said Monday that it had identified deficiencies in all of the audits of broker-dealers the agency reviewed over a five-month period.

The Public Company Accounting Oversight Board released its first report on the progress of an interim inspection program for broker-dealer auditors and found that of the 23 audits performed by 10 audit firms and reviewed between October 2011 and February 2012, all had problems and were not up to generally accepted auditing standards.

"While the results of these initial inspections...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.