Full text of SOGOTRADE, INC.'s X-17A-5 filed 2020-03-16 (period 2019-12-31). Broker-dealer annual report from SEC EDGAR — readable, searchable, and available as markdown for AI agents.
{0}------------------------------------------------ # SOGOTRADE, INC ## STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2019 {1}------------------------------------------------  ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of Sogotrade, Inc. #### Opinion on the Financial Statement We have audited the accompanying statement of fmancial condition of Sogotrade, Inc. as of December 31, 2019, and the related notes (collectively referred to as the "fmancial statement"). In our opinion, the statement of financial condition presents fairly, in all material respects, the fmancial position of Sogotrade, Inc. as of December 31, 2019, in conformity with accounting principles generally accepted in the United States of America. #### *Change in Accounting P1inciple* As discussed in Note 2 to the financial statement, Sogotrade, Inc. has changed its method of accounting for leases in 2019 due to the adoption of Financial Accounting Standards Board Accounting Standards Codification Topic 842, *Leases.* #### Basis for Opinion This financial statement is the responsibility of Sogotrade, Inc.'s management. Our responsibility is to express an opinion on Sogotrade, Inc.'s financial statement based on our audit. \Xie 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 Sogotrade, Inc. 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 fmancial 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 financial statement. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that our audit provides a reasonable basis for our opinion. We have served as Sogotrade, Inc.'s aud…Read the full text as markdown