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Audit/Review for Financial Services Company

Audit/Review for Financial Services Company

The regulatory and economic environments are rapidly changing for broker-dealers and their clients. New and complex rules and regulations, — introduced to the independent broker-dealer industry after abuses and industry scandals were recently brought to light — have made this a challenging environment in which to operate.

Thinning margins, decreasing commission fees and revenue shortfalls are battering the independent broker-dealer industry. As compliance needs have increased, consumer confidence and commission fees have decreased. Now, more than ever, the specialized and trusted services of VJN are needed to achieve financial success. The need for transparency and compliance is becoming increasingly important as broker-dealers weigh options for survival including mergers and acquisitions.

VJN is uniquely qualified to help broker dealers comply with regulatory filing requirements. Our professionals are knowledgeable in the accounting, tax, and regulatory issues specific to this industry.

We provide various services to our broker-dealer clients, including being their independent auditor or providing outsourced accounting department services and filing their FOCUS reports. The filing of FOCUS reports is one of the regulatory requirements that is contingent upon the broker dealer’s ability to complete the monthly reporting process in a timely and accurate manner. VJN has advised clients on how to design a financial reporting package that enables management to compile the required financial data and to better understand the margins and productivity of their operating units. In this industry sector, we also specialize in creative approaches to structuring tax-advantaged compensation programs for commission-based employees.

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