Sample Template to Help Broker-Dealers Meet Regulatory Requirements

By Courtney K. Corallo, CPA, Business Assurance & Advisory Services Senior Manager

Sample Template to Help Broker-Dealers Meet Regulatory Requirements

Complimentary Broker-Dealer Financial Statement Template

Designated Examining Authorities (DEA) Requirements

Broker-dealers can meet their regulatory requirements through accurate and timely financial reporting.  This includes monthly and/or quarterly regulatory filings, including FOCUS Reports, Supplemental Statements of Income, and Form Custody Reports.  In addition, broker-dealers are required to file an annual report as specified under SEA Rule 17a-5(d).  These annual reports include audited financial statements, which must be submitted to FINRA and filed with the SEC.

Business Decision Resource

In addition to regulatory requirements, management and owners can also use comprehensive financial records as a lens into business profitability and cash flow which aids in making informed business decisions.

Management and Auditor Responsibilities

The financial statements are the responsibility of broker-dealer management. The auditor is responsible for expressing an opinion on the broker-dealer’s financial statements based on our audit.

Download the sample template below for general guidance and information. This sample template has been prepared for an LLC entity and does not apply for Corporation use. Furthermore, the disclosures included are not comprehensive of all requirements. Please refer to the Financial Accounting Standards Board (FASB) disclosure framework for consideration of additional notes to be included in the financial statements.

Broker Dealer Financial Statement - Broker Dealer CPA

If you have any questions regarding this template or other broker dealer recordkeeping requirements, please contact your Keiter Opportunity Advisor | Email | Call: 804.747.0000. We are here to help.

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About the Author

Courtney K. Corallo

Courtney K. Corallo, CPA, Business Assurance & Advisory Services Senior Manager

Courtney is a member of Keiter’s Business Assurance and Advisory Services team. Courtney provides audit and review services for not-for-profit organizations and financial services companies. She is a member of the Not-for-Profit team and Financial Services Industry team.

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The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.


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