If your firm is registered with the SEC and you answer YES to any one of the following questions, you may be required to have a surprise audit in accordance with the SEC's recent rule update. (If you are not registered with the SEC, this does not apply to you)

1. Do you have custody of any advisory clients’ cash, bank accounts, or securities?
2. Do you serve under a power of attorney for any client?
3. Are you a trustee or a fiduciary of any account?
4. Do any of your related persons have custody of any of your advisory clients’ cash, bank accounts, or securities?
5. Do you or any related persons have the authority to withdraw funds from any client accounts other than your advisory fee?
6. Do you or any related persons act as qualified custodian for your clients in connection with advisory services you provide?
7. Are you currently having an independent public accountant prepare an internal control report with respect to custodial services when you or related persons are qualified custodians for client funds and securities?
8. Are you a qualified custodian that sends account statements at least quarterly to the investors in the pooled investment vehicles that you manage?
9. Is your pooled investment vehicle audited annually by an independent public accountant that distributes the audited financial statements to the investor pool?

If you are registered with the SEC and you answered YES to any of the above questions you may be subject to the new provisions of the SEC rules that require annual surprise audits by an independent public accountant that is registered with the PCAOB. HLB Gross Collins, P.C. Certified Public Accountants and Consultants are registered with the PCAOB and is a premier provider of SEC compliance audits.

Please email This e-mail address is being protected from spambots. You need JavaScript enabled to view it or call 770-433-1711 for additional guidance.