HomeWebcastBroker Dealer Auditing: Understanding the New SEC and PCAOB Rules and Standards in 2015
Broker Dealer Auditing CLE

Broker Dealer Auditing: Understanding the New SEC and PCAOB Rules and Standards in 2015

Live Webcast Date: Thursday, February 12, 2015 from 10:00 am to 12:00 pm (ET)
CPE-Tax, Accounting and FinanceRecording

Broker Dealer Auditing

Join us for this Knowledge Group Broker Dealer Auditing Webinar. The Public Company Accounting Oversight Board (PCAOB) adopted a new auditing standard and amendments requiring auditors to pay close attention to related-party transactions and significant unusual transactions, as well as a company’s financial relationships and transactions with its executive officers when under-taking audits. These transactions and relationships potentially create risk of misstatements of company finances. 

The Knowledge Group has assembled a panel of key thought leaders to provide the audience with an in-depth analysis and thorough discussion of the SEC and PCAOB New Standards on Broker Dealer Auditing of Related-Party Transactions. 

In a two-hour webcast, the speakers will discuss: 

  • Implementation of Rule 17-a-5 and the PCAOB Audit & Attestation Standards 
  • New Requirements of Broker-Dealers 
  • New Requirements of External Auditors 
  • Impact on Audit Procedures 
  • Overview of PCAOB Auditing Standard 18 
  • PCAOB Interim and Permanent Inspection Program 
  • Compliance Issues and Regulatory Updates 

Agenda

Lisa Calandriello, Assistant Chief Auditor
PCAOB
  • Changes to the audit requirements resulting from the amendments to SEC Rule 17a-5
  • Recently adopted PCAOB standards for audits of brokers and dealers, specifically Auditing Standard No. 17, Attestation Standard No. 1, and Attestation Standard No. 2
  • Update on the PCAOB interim inspection program related to audits of brokers and dealers
  • Overview of PCAOB Auditing Standard No. 18, effective for fiscal years beginning on or after December 15, 2014
  • How to learn more and keep current

Heather Cozart, Partner
Dixon Hughes Goodman LLP
  • New Requirements of External Auditors
  • Impact on Audit Procedures
  • Internal control observations related to broker-dealers
  • Auditor’s take on Auditing Standard No. 18

Robert V. Cornish, Jr., Partner
Phillips Lytle LLP
  • An attorney’s perspective on auditing issues of broker-dealers
  • Working with your attorney on auditing issues
  • Internal Control “hot buttons” of interest to your auditors
    • Risk of Fraud – managing office inspections and other surveillance procedures
    • Capital Raising Activities – subordinated notes/loans and stock offerings in the B/D
    • Delegation of authority – third parties and part time personnel
    • Account surveillance – options, margin, suspense accounts, error accounts
  • What to do when things go awry

Who Should Attend

  • Account and Audit Preparers
  • Accountants
  • Auditors
  • Audit Committees
  • Audit Consultants
  • Field Auditors
  • Chief Financial Officers
  • Executive Officers
  • Other Related/Interested Professionals and Organizations

Broker Dealer Auditing

Lisa Calandriello, Assistant Chief Auditor
PCAOB
  • Changes to the audit requirements resulting from the amendments to SEC Rule 17a-5
  • Recently adopted PCAOB standards for audits of brokers and dealers, specifically Auditing Standard No. 17, Attestation Standard No. 1, and Attestation Standard No. 2
  • Update on the PCAOB interim inspection program related to audits of brokers and dealers
  • Overview of PCAOB Auditing Standard No. 18, effective for fiscal years beginning on or after December 15, 2014
  • How to learn more and keep current

Heather Cozart, Partner
Dixon Hughes Goodman LLP
  • New Requirements of External Auditors
  • Impact on Audit Procedures
  • Internal control observations related to broker-dealers
  • Auditor’s take on Auditing Standard No. 18

Robert V. Cornish, Jr., Partner
Phillips Lytle LLP
  • An attorney’s perspective on auditing issues of broker-dealers
  • Working with your attorney on auditing issues
  • Internal Control “hot buttons” of interest to your auditors
    • Risk of Fraud – managing office inspections and other surveillance procedures
    • Capital Raising Activities – subordinated notes/loans and stock offerings in the B/D
    • Delegation of authority – third parties and part time personnel
    • Account surveillance – options, margin, suspense accounts, error accounts
  • What to do when things go awry

Broker Dealer Auditing

Broker Dealer Auditing

Lisa CalandrielloAssistant Chief AuditorPCAOB

Lisa Calandriello is an assistant chief auditor in the Office of the Chief Auditor, providing technical direction in the development of auditing and related professional practice standards.

Prior to joining the PCAOB in 2010, Ms. Calandriello was a senior manager at Deloitte & Touche LLP, working in the securities, depository institutions, finance company, and employee benefit plan industries.

Ms. Calandriello earned a B.S. in accountancy from American University. She is a certified public accountant in Virginia, Maryland, and the District of Columbia.

Broker Dealer Auditing

Heather CozartPartnerDixon Hughes Goodman LLP

Heather is a Partner in DHG's Financial Services Group with more than 16 years of experience.

She serves clients ranging from de novo community banks to large multi-billion dollar regional banks, broker-dealers and finance companies. She is experienced in the completion of quarterly and annual SEC filings, mergers and acquisitions, stock registration statements, Sarbanes-Oxley compliance, internal control documentation, employee benefit plans, SSAE 16 reporting, agreed-upon procedures, internal audit engagements and other special engagements. Heather is a technical resource for the firm regarding SEC, PCAOB, broker-dealer and other public company matters.

She previously served in DHG’s Professional Standards Group. Prior to joining DHG, Heather was the Director of Technical Accounting at a large publicly traded financial services company, and she also worked at the Securities and Exchange Commission. 

Broker Dealer Auditing

Robert V. Cornish, Jr.PartnerPhillips Lytle LLP

Robert V. Cornish Jr. is a partner with Phillips Lytle LLP and focuses his practice on litigation, arbitration, regulatory and compliance matters for broker/dealers, investment advisors, hedge funds, commodity firms, institutional investors and family offices in the U.S. and abroad. He represents clients on FINRA and NFA arbitrations and court proceedings. He also  represents securities and commodities registrants in connection with enforcement and disciplinary proceedings before FINRA, NFA, CFTC, SEC and state securities regulators. Having previously held positions of in-house counsel and Chief Legal & Compliance Officer with prominent investment firms, Mr. Cornish provides valuable insight and counseling for investment management clients with complex business management and marketing matters. Additionally, Mr. Cornish is a member of SIFMA Legal & Compliance Division, a certified speaker for CFA Institute Speaker's Bureau,  and an industry arbitrator for FINRA and National Futures Association. He graduated with a political science degree from Davidson College in 1989 and received his J.D. from Samford University, Cumberland School of Law in 1993.

Broker Dealer Auditing

Course Level:
   Intermediate

Advance Preparation:
   Print and review course materials

Method Of Presentation:
   On-demand Webcast

Prerequisite:
   NONE

Course Code:
   144978

NASBA Field of Study:
   Auditing

NY Category of CLE Credit:
   Areas of Professional Practice

Total Credits:
    2.0 CLE

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About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.


Headquartered in Charlotte, DHG ranks among the top 20 public accounting firms in the nation. With more than 1,800 professionals in 12 states, DHG combines deep experience with a strong commitment to personal service. DHG’s professionals are passionate about helping clients succeed through a resourceful approach to solving problems, providing solutions and helping clients achieve their goals.

DHG’s Financial Services practice focuses on publicly traded and privately-held financial services companies across the U.S. More than 30 financial services partners and 200+ dedicated professionals provide in-depth, specialized industry knowledge and a wide range of accounting, tax and advisory services to address issues facing the industry in today's challenging environment.

Website: https://www.dhgllp.com/

Phillips Lytle LLP is a premier regional law firm that is recognized nationally for its legal excellence. With offices in New York State, Washington, DC, and Canada, our attorneys serve a multinational client base including FORTUNE 1000 companies, global and regional financial institutions, not-for-profit organizations, middle market companies, startups, entrepreneurs and individuals on important matters affecting their businesses and personal wealth. Superior client service continues to be the cornerstone of our success. In fact, Phillips Lytle is included in the Top 100 of the BTI Client Service A-Team 2014 for recognition by FORTUNE 1000 in-house counsel for delivering superior client service.

Website: https://www.phillipslytle.com/

Lisa Calandriello is an assistant chief auditor in the Office of the Chief Auditor, providing technical direction in the development of auditing and related professional practice standards.

Prior to joining the PCAOB in 2010, Ms. Calandriello was a senior manager at Deloitte & Touche LLP, working in the securities, depository institutions, finance company, and employee benefit plan industries.

Ms. Calandriello earned a B.S. in accountancy from American University. She is a certified public accountant in Virginia, Maryland, and the District of Columbia.

Heather is a Partner in DHG's Financial Services Group with more than 16 years of experience.

She serves clients ranging from de novo community banks to large multi-billion dollar regional banks, broker-dealers and finance companies. She is experienced in the completion of quarterly and annual SEC filings, mergers and acquisitions, stock registration statements, Sarbanes-Oxley compliance, internal control documentation, employee benefit plans, SSAE 16 reporting, agreed-upon procedures, internal audit engagements and other special engagements. Heather is a technical resource for the firm regarding SEC, PCAOB, broker-dealer and other public company matters.

She previously served in DHG’s Professional Standards Group. Prior to joining DHG, Heather was the Director of Technical Accounting at a large publicly traded financial services company, and she also worked at the Securities and Exchange Commission. 

Robert V. Cornish Jr. is a partner with Phillips Lytle LLP and focuses his practice on litigation, arbitration, regulatory and compliance matters for broker/dealers, investment advisors, hedge funds, commodity firms, institutional investors and family offices in the U.S. and abroad. He represents clients on FINRA and NFA arbitrations and court proceedings. He also  represents securities and commodities registrants in connection with enforcement and disciplinary proceedings before FINRA, NFA, CFTC, SEC and state securities regulators. Having previously held positions of in-house counsel and Chief Legal & Compliance Officer with prominent investment firms, Mr. Cornish provides valuable insight and counseling for investment management clients with complex business management and marketing matters. Additionally, Mr. Cornish is a member of SIFMA Legal & Compliance Division, a certified speaker for CFA Institute Speaker's Bureau,  and an industry arbitrator for FINRA and National Futures Association. He graduated with a political science degree from Davidson College in 1989 and received his J.D. from Samford University, Cumberland School of Law in 1993.

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