The Public Company Accounting Oversight Board has issued guidance on the recent requirement for registration of auditors of privately held broker-dealers.
Until recently, by order of the Securities and Exchange Commission, registration of auditors of nonpublic broker-dealers was not necessary. However, as a result of the recent expiration of the SEC order, financial statements of nonpublic broker-dealers for fiscal years ending after Dec. 31, 2008, must now be certified by a PCAOB-registered public accounting firm.
The guidance,
The document supplements guidance on the same topic issued recently by the SEC staff and the Financial Industry Regulatory Authority. The