Home & Branch Office Reviews
SCA’s Branch Audit Program is a consultant-based program that provides branch compliance supervisory services to assist firms’ home offices develop and implement a branch supervisory system that should include:
- Clear and effective supervisory structure;
- Evidence of supervisory review;
- Follow-up of exceptions ("red flags"); and
- Monitoring effectiveness.
SCA also helps firms modify their branch supervisory structure to meet the requirements of Rule 3010(c), including answers to the following questions:
- Who may now conduct office inspections?
- Can we use the limited size and resources exception?
- How do we determine which branch managers are subject to the heightened supervision requirement?
SCA's branch audits include:
- Interviews with branch personnel;
- Review of books and records;
- Review of compliance with industry rules and regulations;
- Testing and verification of the firms' supervisory and compliance policies and procedures;
- Report findings and recommendations and addressing all issues included in
Rule 3010(c); and
- Follow-up audits for offices as necessary.