Document Type
Article
Publication Date
1963
Abstract
Where accountant, who certified financial reports of registered broker-dealer filed with Commission, failed to perform various auditing procedures specified in Commission's Minimum Audit Requirements for such reports and failed to comply with generally accepted auditing standards in that he did not properly obtain confirmations of customers' accounts and closed accounts and did not properly balance securities positions or verify securities in transfer, and where he certified financial statement of a mutual fund for periods when company of which he was a principal stockholder and co-manager made loans collateralized by securities to salesmen and customers of broker-dealer which was principal underwriter and a broker for the fund and, through an affiliate, its investment adviser, held, accountant inadequately performed his professional duties and engaged in activities incompatible with required professional independence and his privilege of practicing before Commission will be suspended for period of sixty days.
Relational Format
article
Series Title
Accounting Series Release No. 097
Recommended Citation
United States. Securities and Exchange Commission, "In the matter of Harmon R. Stone: File no. 4-114: Rule 2(e), Rules of Practice: Findings and opinion of the Commission" (1963). Federal Publications. 174.
https://egrove.olemiss.edu/acct_fed/174