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Brokers and Dealers in Securities - Accounting Guide

Publisher: AICPA
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The broker-dealer industry is undergoing significant change, which has added challenges for broker-dealers assessing their operations and internal controls for regulatory considerations. This 2014 edition gives you the up-to-date industry-specific accounting and regulatory guidance you need to be able to tailor your operations to fit the current environment. From new best practices to interpretive guidance to industry-specific considerations, this guide has you covered.

In addition, this edition contains updated industry-specific illustrative financial statements, disclosures and supplementary schedules. It offers “best practice” discussion of industry-specific issues such as fair value accounting and related disclosures, and compliance with regulatory requirements.

Key Benefits Include:

  • Coverage of regulatory updates from key industry regulators (SEC, CFTC and FINRA), including amendments to SEC Rules 17a-5 and 15c-3
  • Comprehensive examples of financial statements, disclosures, and supplementary schedules.
  • A new appendix which identifies PCAOB standards that broadly correspond with the Clarified Auditing Standards.
  • Discussion and interpretive guidance associated with, among others, FASB ASU 2013-10, ASU 2013-12, and ASU 2014-11.
  • Coverage of offsetting of derivatives and repurchase agreements.

Updates:

  • Securities and Exchange Commission Release No. 34-70073, Broker-Dealer Reports.
  • Securities and Exchange Commission Release No. 34-55431, Amendments to Financial Responsibility Rules for Broker-Dealers.
  • FASB ASU No. 2013-10, Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes (a consensus of the FASB Emerging Issues Task Force).
  • FASB ASU No. 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures.

Who Will Benefit:

It is critical to understand the complexities of the specialized accounting and regulatory requirements needed for the broker-dealer industry. This comprehensive guide has been designed to be beneficial for a wide range of professionals within the broker-dealer industry.

This product is also available in an online subscription format that includes the corresponding Financial Institutions Industry Developments - Audit Risk Alert, content updates and unlimited online access for 1 year. Select the Online Subscription option at the bottom of the page and save!
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