Full text of ACADEMY SECURITIES, INC.'s X-17A-5 filed 2020-03-02 (period 2019-12-31). Broker-dealer annual report from SEC EDGAR — readable, searchable, and available as markdown for AI agents.
{0}------------------------------------------------ Statement of Financial Condition DECEMBER 31, 2019 {1}------------------------------------------------ #### **Contents** | Report of Independent Registered Public Accounting Firm | | |----------------------------------------------------------|---| | Financial Statement | | | Statement of financial condition as of December 31, 2019 | 2 | | Notes to statement of financial condition | 3 | {2}------------------------------------------------  #### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** The Board of Directors Academy Securities, Inc. #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Academy Securities, Inc. (the "Company") as of December 31, 2019 and the related notes ( collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2019, in conformity with accounting principles generally accepted in the United States of America. #### **Change in Accounting Principle** As discussed in Note B to the financial statements, the Company has changed its method of accounting for leases in the year ended December 31, 2019 due to the adoption of Accounting Standard Update 2016-02, Leases. #### **Basis for Opinion** This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financi…Read the full text as markdown