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IIA

IIA-CFSA · Question #203

Which of the following activity/ies should be considered by the auditors whenever reviewing situations where broker-dealer finance proprietary or customer activity through collateralized bank loans?

See the full explanation below for the reasoning.

Question

Which of the following activity/ies should be considered by the auditors whenever reviewing situations where broker-dealer finance proprietary or customer activity through collateralized bank loans?

Options

  • AEnsuring that customer, noncustomer, and firm bank loans are separately maintained and that
  • BMaintaining separate accounts in the general ledger for the securities collateralizing each
  • DReconciling the repurchase and reverse repurchase subsidiary ledgers to the stock record and

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