How long does an audit take to complete?

The length of an audit depends on the scope of the firm's operations, the condition and complexity of the firm's records, the responsiveness of firm personnel to NFA requests, and the results of prior audits.  The time can vary greatly between Member firms. For example, fieldwork for a guaranteed IB with an average amount of business, minimal promotional material and no customer complaints can be completed in about two days, while fieldwork for an FCM or RFED can take about three weeks. Fieldwork for a CTA is generally about four days and for a CPO is about one week. When an audit is announced, the auditor can give you a better estimate of the time needed to complete the fieldwork at your firm.