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PCAOB Attestation Standard No. 1

PCAOB Attestation Standard No. 1

This PCAOB standard establishes requirements that apply when an auditor is engaged to perform an examination of certain statements made by a broker dealer in a compliance report for the SEC.


SEC Rule 17a-5 requires a broker dealer's compliance report to include the following statements:

  • The Internal Control Over Compliance (ICOC) was effective during the most recent fiscal year
  • The ICOC was effective as of the end of the most recent fiscal year
  • The broker or dealer was in compliance with the net capital rule and met the reserve requirements rule





This timely, two hour morning CPE training event is designed for the CPA firm staff members who will be working on PCAOB regulated audits. The attendees will learn the findings that the PCAOB have disclosed in their annual report on the broker dealer inspectin program.


Each attendee will receive 2 CPE Hours (YB). A certificate of completion will be provided.

  • Details on Event Presentation


    Being offered on Wednesdays every six weeks at 10:00 a.m. to 12:00 noon Central Time.

  • CPE Event Highlights

    This event covers for the external auditor how to deal with the PCAOB Attestation Standard No. 1 :

    • What are examination engagements?

    • How does the auditor approach Internal Control Over Compliance (ICOC)

    • How does the auditor perform an examination of the assertions made by a broker or dealer

    • What does the opinion on the assertions made by a broker or dealer cover?


  • Learning Objectives

    Attendees will:

    • Improve their efficiency and effectiveness

    • Understand the PCAOB's objectives in compliance with Attestation Standard No. 1

    • Review the isssues within performing the Examination Engagement
    • Understand how to planning the Examination Engagement

    • Understand how to report on the Examination Engagement

  • Key Issues on the Agenda

    Introductions and Administrative Items
    Section 1 - PCAOB Attestation Standard No. 1

    • Performing the Examination Engagement
    • Testing Controls over Compliance
    • Performing Compliance Tests
    • Evaluating the Results of the Examination Procedures
    • Subsequent Events
    • Obtaining a Representation Letter
    • Communication Requirements
    • Reporting on the Examination Engagement

    Section 2 - PCAOB Enforcement Activities

    Section 3 - Going Forward

  • NASBA Program Disclosure

    Program Level of Understanding: Basic
    Prerequisites: None
    Advance Preparation: None
    Delivery Format: Group Internet Based
    NASBA Field(s) of Study: Auditing
    CPE Credits: 2, based on 50 minutes of instruction per hour

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