Investment adviser checklist.CPAs registered as investment advisers (see "To Register or Not, That's the Question That's the Question is an American quiz game show on GSN, hosted by game show veteran and former Entertainment Tonight reporter, Bob Goen, which premiered in October 2006. ," page 47) must adhere to adhere to verb 1. follow, keep, maintain, respect, observe, be true, fulfil, obey, heed, keep to, abide by, be loyal, mind, be constant, be faithful 2. a regulatory structure beyond that imposed on practicing CPAs, and they can expect a Securities and Exchange Commission or state agency audit of their personal financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against practice. To be better prepared for an audit, keep the following records ready for inspection, because an audit can come without warning. * A copy of partnership articles, articles of incorporation The document that must be filed with an appropriate government agency, commonly the office of the Secretary of State, if the owners of a business want it to be given legal recognition as a corporation. , charter, corporate minutes and stock records. * The general ledger General Ledger A company's accounting records. This formal ledger contains all the financial accounts and statements of a business. Notes: The ledger uses two columns: one records debits, the other has offsetting credits. , summary ledgers, cash receipts and disbursements journals, checkbooks, bank statements, canceled checks and cash reconciliations, bills paid and accounts payable files. * Copies of the most recent trial balance, balance sheet and income statement. * A list of loans outstanding, including loans to and from current or previous clients. * A list of all clients and terminated accounts. * A list of all client discretionary accounts. * A list of clients directly or indirectly related to the registrant or any of its associated persons. * A list of related persons affiliated with other companies or business ventures (such as broker-dealers affiliated with the registrant). * Correspondence files, client files, client billings, client contracts or advisory agreements, power-of-attorneys and all other written agreements. * A list of names, addresses, and social security numbers of all of the registrant's officers, directors, partners, employees and stockholders. * Addresses of other offices. * All documents given to prospective clients. * A list of broker-dealers used by the registrant's clients and the total commissions paid during the past 12 months. * A copy of the written disclosure statement, if other than part Il of the "Uniform Application for Investment Adviser Registration" (form ADV Form ADV An SEC form for reporting information about an investment adviser, including education, business, regulatory problems, services, and fees. The form has two parts, and an investor should read both prior to employing the services of an investment ), and record of delivery of the disclosure statement. * Form ADV and the most recent form ADV-S. * Soft-dollar arrangement documents - all supporting workpapers pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to soft-dollar allocations, a list of all items received for soft dollars and all correspondence. * Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. summaries - current, prior and potential - and complaint files. * Each advertisement and publication of performance results and supporting computations. * Names and addresses of registrant's current auditor or accountant and legal counsel. * Personal securities transactions of all associated persons - officers, directors, partners and employees (advisory representatives). |
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