MFA compliance examination services
for registered investment advisors
In the wake of several high-profile cases of fraud involving investment advisors and broker-dealers, the Securities and Exchange Commission (SEC) recently adopted final amendments to Rule 206(4)-2 (“the Custody Rule”) under the Investment Advisors Act of 1940 in an attempt to provide additional safeguards for client funds or securities in the custody of a registered investment advisor.
SPECIFIC KNOWLEDGE
PCAOB REGISTERED
SOLID AUDIT AND ASSURANCE EXPERIENCE
What is the value of a CPA who both understands your industry and is aware of current trends and issues affecting it? For MFA’s investment management clients, it has proven invaluable. Our combination of sophisticated financial, technical and industry expertise has made us the firm of choice for registered investment advisors seeking an efficient, cost-effective solution to meeting their SEC examination requirements, whether it be an annual surprise examination, annual internal control report, or both.
MFA Compliance Examination Services
• Annual Surprise Examinations
• Internal Control Reports
– SAS 70 Type II Report
MFA is registered with the PCAOB and is a member of the AICPA’s Center for Audit Quality which opens our work to inspection and demonstrates our confidence in, and commitment to, quality control in the preparation of informative, fair, and independent audit reports. MFA received its latest inspection report from the PCAOB which again contained no deficiencies or quality control issues, indicating complete and continued compliance with PCAOB standards.
For those RIAs, or their related parties, who act as a custodian, the SEC requires the independent public accountant conducting the surprise examination to be registered with, and subject to regular inspection by the Public Company Accounting Oversight Board (PCAOB). Furthermore, the independent public accountant issuing the internal control report (e.g. SAS 70 Type II) must also be a PCAOB registered firm.
MFA Compliance Examination Services
• Annual Surprise Examinations
• Internal Control Reports
– SAS 70 Type II Report
MFA’s solid audit and assurance track record, combined with our extensive Sarbanes-Oxley and internal controls consulting expertise, demonstrates the strength and range of our compliance examination services. The exceptional knowledge base and vast experience amassed over the years has resulted in our ability to consistently offer a responsive, value-driven, hands-on approach. In working with MFA, clients are secure in the knowledge that they are working with truly seasoned professionals with a track record for results.
MFA Compliance Examination Services
• Annual Surprise Examinations
• Internal Control Reports
– SAS 70 Type II Report
The SEC’s Amended Custody Rule Ammendments to Rule 206(4)-2 of the Investment Advisors Act
As of March 12, 2010, the SEC requires certain registered investment advisors (RIAs) who have "custody" of client assets (directly or through a related person) to engage an independent public accountant to conduct an annual surprise examination of client assets. If the RIA, or its related person, acts as a "qualified custodian", the independent public accountant must be registered with, and subject to regular inspection by the Public Company Accounting Oversight Board (PCAOB).
Furthermore, if the RIA acts as a qualified custodian for advisory clients or if they have related persons that act as qualified custodians for the RIA’s advisory clients, the SEC requires an internal control report (e.g. SAS 70 Type II report) prepared by a PCAOB registered independent public accountant.
MFA Compliance Examination Services
for Registered Investment Advisors
Did you know that as of March 12, 2010, the SEC requires certain registered investment advisors (RIAs) with custody of client assets (directly or through a related person) to engage an independent public accountant to conduct an annual surprise examination of client assets?
MFA – Moody, Famiglietti & Andronico, LLP is a proactive CPA and consulting firm located North of Boston with National and Global reach. Founded in 1982, the firm is comprised of nearly 100 professionals including 15 partners whose speed, precision, and commitment to client success results in proven best value solutions that offer the ideal combination of expertise, service and price.
