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Internal Audit On Stock Brokers

Nature of Audit:

  • Review of Order and Risk Management system.
  • Verification and review of Constituent Registration Documents.
  • Verification of systems for Margins collection from clients.
  • Verification/Review of Procedures and systems pertaining to dispatch of contract notes/Margin Statement/Statement of accounts.
  • Verification of systems and procedures in place for receipt/payments of funds/securities from/to clients.
  • Review of operations at branch and subbroker location.
  • Verification of internal controls of Terminal Operations at members office.
  • Review of documentation and implementation of Provisions pertaining to Anti Money Laundering (AML) Compliance.
  • Review/Verification of Systems in place to prevent and monitor code changes.
  • Verification and review of Investor Handling Mechanism etc.
  • Review of clearing activities in case of Professional Clearing member/ Members clearing trades of other trading members.

Our Approach:

  • Segregation of data based on sampling criteria issued by SEBI
  • Analysis of the data
  • Thorough verification of the segregated data
  • Detecting any irregularity
  • Providing remedial measures in case any irregularity is observed

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