Which of the Following Activity/ies Should Be Considered by the Auditors

Which of the following activity/ies should be considered by the auditors whenever reviewing situations where broker-dealer finance proprietary or customer activity through collateralized bank loans?

A) Ensuring that customer, noncustomer, and firm bank loans are separately maintained and that procedures are in place to prevent commingling of collateral
B) Maintaining separate accounts in the general ledger for the securities collateralizing each loan
C) Obtaining collateral from the counterparty
D) Reconciling the repurchase and reverse repurchase subsidiary ledgers to the stock record and general ledger daily. Out-of-balances are recorded as suspense items and researched immediately

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