FINRA Examination Support

During the onslaught of new regulation, FINRA has focused its attention on ensuring that all broker dealer firms be in compliance with the accounting standards set forth.  Broker dealer firms are required to file timely Focus Reports that fairly represent the nature of the business being conducted.  FINRA ensures that the financial reports they receive are accurate by conducting financial examinations on an annual basis.  Many broker dealer firms have complained about the complexity and the length of FINRA financial examinations.  The FINRA examiners assigned to the account typically do an in-depth analysis of the broker dealer firm’s activities and the financial reports that represent these activities that are being conducted.  FINRA typically asks for detail of the revenues generated and expenses incurred, and will want to verify that these are legitimate business activities.  The Focus Report is at the forefront of the FINRA examination, as the examiners want to ensure that net capital has been accurately calculated and that both assets and liabilities have been properly recorded as allowable/non-allowable and aggregate indebtedness/non-aggregate indebtedness, respectively.

As the provider of accounting services for our clients, the Certified Public Accountants at ACI understand that they are best served to assist the FINRA examiners in their efforts to verify financial accuracy and stability.  ACI takes responsibility for assisting the FINRA examiners in the preparation of all requested documents and will answer all broker dealer accounting and Focus Report related questions asked by FINRA examiners.  Our goal is to ensure the FINRA examination process is as short and pain-free as possible. 

To inquire into ACI's FINRA Exam services, contact us at info@acisecure.com.