Audit of Stock Commodities Brokers

AUDIT OF STOCK & COMMODITIES BROKERS

The audit services and assurance services from securities market come with an added advantage of strong and diversified educational background, experienced knowledge in financial markets, thorough domain competency, expert knowledge of applicable laws and strong technical capabilities. These services include:

  • Half yearly audit of Brokers.
  • Systems Audit.
  • Concurrent and Internal Audits of DPs.
  • Financial Internal Audit.
  • Management and Operations Audit.
  • Branch & Sub-broker Inspections.
  • Audit of Portfolio Managers.
  • Certification of income & performance.
  • Certification of Disclosure Document.

The following services are required to be done by the Stock & Commodities brokers

  • Books of Account to be maintained as per Securities & Exchange Board of India (SEBI) Stock Brokers & Sub-Brokers Rule, 1992.
  • Books of Account to be maintained as per Securities Contracts (Regulation) Rules,1957.
  • The Audit Report which is to submit by the members should be as per the format prescribed by Securities Contracts (Regulation) Act.
  • Format of Half yearly Internal Audit Certificate prescribed by stock exchanges/SEBI.
  • Checklist for Compliance Audit/Review relating to stock brokers.