...Hambisa Belina; K. Raghunandan; Dasaratha V. Rama SUMMARY Prior research shows that many of the companies that disclose material weaknesses in internal control (MWs) do not disclose such weaknesses in earlier quarterly 10-Q filings for the same year—i.e., the year-end MW disclosures are “surprise...

... internal control material weakness material inadequacy Regulation of BDs has historically been governed by the Securities Exchange Act of 1934 ( U.S. Congress 1934 ) and the Securities Acts Amendments of 1975 ( U.S. Congress 1975 ). ⁴ ( Table 1 provides a summary timeline...

... standards internal control material weakness material inadequacy This paper examines the status of auditor reporting for the broker-dealer (BD) industry and considers how proposed changes to SEC regulations and PCAOB attestation standards would affect the ways in which auditors evaluate...