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In the highly regulated world of broker-dealers, annual audits are a standard compliance requirement, but many firms underestimate the strategic importance of a mid-audit review. In the securities trading and brokerage market, maintaining substantial financial and operational control at each stage is crucial; therefore, a mid-year review is one such checklist. In fact, it is
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Have you filed your Annual Performance Report yet? (December 31) The deadline is approaching. If you are an Indian resident or an entity that has made investments abroad, then you must be aware of the requirement to submit the APR to the RBI (Reserve Bank of India). The RBI mandates the submission of this report
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Do you know that all Broker-Dealers do not operate in the same way? One of the most important distinctions is whether they carry customer accounts or do not carry them. This distinction affects how they operate, their responsibilities, regulatory requirements, and how they handle customers. To this, you need to understand all these aspects in
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Being a broker-dealer in today’s complex business environment means keeping up not only with market trends but also with evolving regulatory standards. With emerging regulations from the SEC, PCAOB, and FINRA. Audits are now becoming more detailed with Stricker documentation and compliance checks. Auditors, compliance teams, and management now face a more complex set of
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Broker-Dealers are the backbone of U.S. financial markets, enabling the smooth buying and selling of securities. Given their critical role, they operate under strict regulatory oversight from the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Among the many compliance obligations, one stands out each year—the independent audit requirement. This audit
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I’ve filed my ITR even before the deadline, so I’m now fully compliant. This is the most common belief among many people in business. But filing an ITR only means you have met all your tax obligations. However, filing an ITR doesn’t exempt your business from a tax audit if the business turnover exceeds the
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According to statutory requirements under US GAAP, companies are mandated to conduct an audit of their financial statements to ensure compliance with applicable regulations. It is the auditor’s responsibility to identify any material errors or fraudulent activities within the financials. It is essential for organizations to appoint a competent auditor who is well-versed in U.S.
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Attracting, retaining, and motivating talent in today’s competitive job market is a very crucial aspect of managing a company’s human resources. To address these challenges, the Employee Retirement Income Security Act (ERISA) establishes standards for health, retirement, and other welfare benefit plans in order to protect both employees and employers. Among these plans, one that
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Do you know how investors grow their wealth through investments? It might seem tricky, but it’s actually quite simple! Investors allocate their money to financial products that offer potential returns over time. So, what are the options? There are various financial assets like equities, debt instruments, and government bonds. Investors build a portfolio by investing
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The new requirement for auditors to report critical audit matters (CAMs) is the most significant change to the auditor’s report by the Public Company Accounting Oversight Board (PCAOB) in the United States via its new standard AS 3101. The determination of CAMs is principles-based and depends on the facts and circumstances of each audit. To
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