Audit – Module K – FINANCIALS

Do you maintain a monthly aged A/R listing ?(Required)

Does the A/R listing identify over 90 day balance?(Required)

Do you exclude the deferred/prebilled items in the A/R balance?(Required)

Do the client credits reflect in the A/R listing report?(Required)

Does Aged A/R balance verify the corresponding General Ledger balance? (A/R list = GL)(Required)

Are any non-trust receivable items included? (ex. direct billed commission receivable/CPC receivable)(Required)

Are the client prepaid premiums reflected in the A/R listing report?(Required)

Do you refund client credits owing in a timely manner?(Required)

Do you exclude accrual items in the A/R balance?(Required)

Does the brokerage have any trust investments?(Required)

Is the investment in full compliance with Reg.S.16 (5)?(Required)

Is the trust investment in the registered name of the brokerage and designated in trust?(Required)

Do you maintain a monthly insurer payable listing?(Required)

In which manner do you maintain a monthly insurer payable listing?(Required)

Do you reconcile the insurer payable balance to the corresponding company statement?(Required)

Is direct billed commission receivable posted to these accounts?(Required)

Do you maintain a binder bill payable account?(Required)

How does the brokerage remit the RST payment with CRA?(Required)

How often does the brokerage remit RST payment?(Required)

Are you maintaining the mininum equity captialization as per the regulation 19?(Required)

Are all paid up capital balances reported?(Required)

Are the retained earnings reconciled to the last year-end financial statements?(Required)

Are the shareholder loan/advance balances reported?(Required)

How often do you make broker's commission transfer to the general bank account?(Required)

Do you determine the minimum net trust position prior to making commission transfers to the general bank account?(Required)

What was the most recent filed Statutory Form 1 Position Report period ending date?

Please attach Balance Sheet, A/R Listing Report, Trust Bank Statement and Bank Reconciliation Statement.

Max. file size: 256 MB.

Additional Attachment

Max. file size: 256 MB.

Additional Attachment

Max. file size: 256 MB.

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