PCAOB Audit and FINRA/SEC Exam Support

From regulatory exams to annual audits, ACI helps broker-dealers stay compliant and in control. We act as a liaison between your firm and its auditors, examiners and oversight bodies – minimizing disruption and ensuring you’re prepared every step of the way.

Our audit and exam support services include:

Document Production and Responses for Regulatory Examinations

ACI acts as your front line during FINRA, SEC or NFA exams. As the preparer of your financials and regulatory filings, we communicate directly with examiners, helping your firm navigate inquiries confidently and efficiently.

PCAOB Audited Financial Statement Preparation and Submission

While ACI cannot serve as your auditor due to independence rules, we prepare and submit fully audit-ready financial statements in GAAP format – complete with footnotes and disclosures aligned to PCAOB expectations.

Exemption Report Preparation

Broker-dealers claiming exemption from SEC Rule 15c3-3 must file an annual exemption report. ACI ensures yours is accurate, defensible and aligned with your operational model.

Audit/Examination Preparation

ACI helps you prepare well ahead of examiner inquiries – identifying gaps, organizing documentation and testing systems for regulatory resilience.

Questions on PCAOB audits, FINRA/SEC exams or ACI’s support services? Here’s what you need to know.

What is the role of the PCAOB in broker-dealer audits?

Under the Dodd-Frank Act, the Public Company Accounting Oversight Board (PCAOB) oversees audits of broker-dealers. Broker-dealers must file annual financial statements audited under PCAOB standards for inclusion in SEC and regulatory submissions.

What is an exemption report?

Broker-dealers exempt from SEC Rule 15c3-3 (Customer Protection Rule) may file an exemption report instead of a compliance report. This requires a detailed description of why the exemption applies (e.g., non-carrying/non-custody activity). The report must include a supporting accountant’s review.

Does ACI handle filings to each regulator?

Yes. ACI prepares and submits PCAOB-audited financials to the SEC through the EDGAR system, FINRA, the NFA, the SIPC and relevant state regulators, depending on your firm’s specific obligations. We also track submission confirmations and provide support for any follow-up questions or amendments that may arise.

What common audit deficiencies does the PCAOB identify for broker-dealer audits?

PCAOB findings often involve: net capital computation errors, revenue miscalculations, disclosure gaps and lack of auditor knowledge about broker-dealer rules. ACI’s audit support helps you address these issues before filing.

Can ACI serve as the PCAOB auditor for my firm?

No. PCAOB-registered auditors must maintain independence. ACI prepares fully audit-ready, GAAP-formatted financials – including footnotes, schedules and supporting documentation – but does not serve as your independent auditor. This segregation of responsibilities preserves both compliance and objectivity.

What documents are required during FINRA, SEC or NFA exams?

Examiners commonly request year-end financial statements, trial balances, net capital schedules, reconciliation workings, ledgers and transaction-level backing. Timely responses reduce onsite time and help avoid deficiencies. ACI prepares, organizes and submits these materials on your behalf.

How does ACI prepare its clients for audits and exams?

ACI takes a proactive, hands-on approach to audit and exam readiness, helping firms anticipate regulator expectations and minimize disruption. We guide clients through comprehensive pre-audit checklists, conduct walkthroughs of financial workflows and controls and simulate typical exam requests to ensure key documentation is readily available. Our team also reviews prior exam findings to avoid repeat issues and advises on internal roles and response strategies, so your staff is equipped to handle inquiries with clarity and confidence.