Upcoming Feature from Joot Labs: SEC Exam and Audit Preparation Tool

Upcoming Feature from Joot Labs: SEC Exam and Audit Preparation Tool
08/04/2022

The prospect of an SEC examination can send even the most diligent firms into a panic. Regulations are frequently changing, so it’s difficult to gauge if your policies and procedures are compliant with current standards. In the 2021 fiscal year, the SEC found deficiencies in roughly 69 percent of firms under review. These deficiencies often result in fines, being added to the SEC’s watch list, or even a suspension of firm trading.

Exam prep can alleviate anxiety, disruption, and expense when the SEC does eventually knock on your door. Even if you’re confident your firm’s policies and procedures meet regulatory requirements, familiarizing yourself with exam expectations will help the process go smoothly. The worst time to prepare for an SEC exam is shortly after receiving your review notification. You won’t establish a good first impression with the review team if you don’t know what to expect. Regardless of whether you're currently under review or looking to get prepared, here at Joot we’ve started developing a tool to simplify the exam process and help your firm improve its compliance program.

SEC Exam and Audit Preparation Simplified

Joot recognizes the challenges an SEC exam presents. In response, we’ve begun building a tool customized for your firm to simplify the preparation process. Choose to take a mock SEC exam or use our platform to guide you through the real thing. We’ll help you prepare, organize, and make SEC filings with confidence.

Our upcoming tool delivers organization-based tasks tailored to your needs, offers employee collaboration, and provides support from our Joot compliance team. Backed by a unique blend of technology and personalized service, our platform follows an easy step-by-step process so you can relax knowing you’re prepared for anything the SEC throws your way.

SEC Exam and Audit Preparation Tool step-by-step process

Step 1: Get your firm's personalized audit requirements from Joot by CRD number. You can sample this functionality through our SEC exam requirement lookup. The lookup form is just a taste of what our upcoming audit prep tool provides. We’ll walk you through the process of preparing required documentation for regulators. You’ll also get full support from our expert services team as needed.

Step 2: Upload your compliance files to organize and review. Stored securely on our cloud-based solution, your documentation will be reviewed to meet SEC standards and flagged for any missing required information.

Step 3: Generate a custom report by exam type. If you’re undergoing an active SEC review, we’ll help you file electronically and let you know what to expect next from your SEC investigative team. If you’re generating a report for a mock exam, any SEC follow-up questions will be supported by a dedicated Joot compliance expert.

Join the Waitlist

We’re excited for the possibilities our SEC exam and audit prep tool will provide. Compliance doesn’t drive your business forward, but it can hold you back. Here at Joot, our goal is to simplify the entire process.

If you’re interested in learning more or want to stay informed on our future and current compliance products, then join our waitlist or visit the Joot Labs hub to view all projects in the works.

If you have any thoughts, concerns, or ideas on any of Joot's products or services, feel free to reach out and join the conversation.