Customer accounts:
Ensure that the firm is exercising due diligence in the opening and supervision of customer accounts. The procedures should be formalized in writing and in accordance with the rules and regulations of the appropriate regulatory authority. Ensure that daily customer positions and option exercises are in accordance with the limits established by the appropriate exchange. Verify that commissions generated by customer trades are properly calculated and posted to the general ledger.

Question

Customer accounts:Ensure that the firm is exercising due diligence in the opening and supervision of customer accounts. The procedures should be formalized in writing and in accordance with the rules and regulations of the appropriate regulatory authority. Ensure that daily customer positions and option exercises are in accordance with the limits established by the appropriate exchange. Verify that commissions generated by customer trades are properly calculated and posted to the general ledger.

Samuel rodriguez · Accepted Answer

This is one of the primary audit objectives of stock and options

Samuel rodriguez · Answer

This is one of the primary audit objectives of swaps

Samuel rodriguez · Answer

This is one of the primary audit objectives of bonds

Samuel rodriguez · Answer

None of these

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