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BROKER-DEALERS, REGISTERED INVESTMENT ADVISORS, AND PRIVATE EQUITY FUNDS
BDG-CPAs has a highly diverse broker-dealer clientele that includes:
- Agents for the purchase and sale of securities, commodities, and related financial instruments.
- Advisors for public and corporate finance activities, such as mergers & acquisitions.
- Foreign entities with US trading operations.
- Developers of new financial products.
- Major bank portfolio advisors.
QUALIFICATIONS TO PROVIDE ATTESTATION SERVICES
- BDG-CPAs has been performing SEC registrant audits for over three decades and has been a member of the Public Company Accounting Oversight Board (PCAOB) since its inception under the Sarbanes-Oxley Act of 2002. Prior to joining the PCAOB, BDG-CPAs was a member of its predecessor regulating body, the AICPA SEC Division since 1993. Accordingly, BDG-CPAs is familiar with the rigorous SEC regulations and has many years of experience auditing under PCAOB standards.
- The COSO Internal Control Framework is the most recognized and respected internal control standard in the world. BDG-CPAs is extensively trained in this framework as updated in the 2013 rerelease. True to the long-standing mission statement, BDG-CPAs attestation is performed with a focus on recommendations to management to continuously strengthen internal controls.
- Broker-dealers best served by BDG-CPAs are those that are too small for the Big 4 or otherwise not receiving high technical and personal attention. Our billing rates are about half of the Big 4s while our quality is highly competitive. Many smaller firms simply do not audit enough broker-dealers to make it worth keeping up with the rigorous standards. The PCAOB inspections are intensive and have a significant deficiency rate. BDG-CPAs has a clean deficiency record since inspections started in 2003.\
- BDG-CPAs broker-dealer relationships are often formed by coordinating with accounting firms that are not PCAOB member but want to retain full relationships with their broker-dealer client(s). Accordingly, such firm prepares all financial statements and BDG-CPAs performs an independent PCAOB audit. These coordinated relationships work well and are in the best interest of all parties.
For Registered Investment Advisors, BDG-CPAs performs custody audits on a surprise basis which are also required to be performed under PCAOB standards.
While we do not provide securities compliance services as a matter of independence, we are familiar with the FINRA and SEC reporting rules including such matters as internal control procedures and related reporting requirements. (Note: for trading broker dealers, BDG-CPAs only audits non-carrying.)
