Quality assurance, tax and advisory services are critical for financial institutions in today’s rapidly changing industry landscape. We
currently serve over 175 financial institution clients throughout the Southeast, which translates into a first-hand understanding of the industry and its best practices.
OPINION AUDIT SERVICES
Mauldin & Jenkins is committed to compliance with all audit requirements and
accounting standards, and we emphasize providing value-added audit services for our
clients. We enhance the value of the audit by maintaining an open line of communication with management, the Board and the Audit Committee for key accounting and auditing issues. Our service not only fulfills compliance with all audit and accounting standards, but also strengthens our clients’ corporate governance and financial reporting. We are also a registered firm with the PCAOB and licensed to practice before the SEC on public company audit engagements. Our goal is to build lasting relationships by providing the highest quality service. Our assurance services
are enhanced and further help differentiate us from other assurance service providers
Direct partner involvement in the field to supervise qualified staff and consult with management during the audit process.
Over 40 hours of annual internal training sessions designed specifically for the financial
institution team to ensure that the individuals who work on your audit are experts and as
a result, are efficient and effective in order to minimize disruption to client personnel.
tax planning and return preparation
Our financial institution tax partners assist our clients in understanding the tax challenges within the financial institutions industry, implementing tax-planning strategies to minimize tax exposure while also avoiding non-compliance penalties and making informed business decisions concerning both federal and state tax-related matters.
Risk Management Services
Today’s regulatory and corporate accountability culture demands that financial
institutions establish and maintain an effective enterprise-risk-management system.
This system requires effective internal controls, ongoing monitoring and independent
testing for compliance. Outsourcing can be an effective way to meet these demand and
we provide the following to assist in meeting these demands:
Risk Management Consulting
Our regional experience means we have the knowledge to advise our clients on the most up-to-date industry practices.
INTERNAL AUDIT & LOAN REVIEW SERVICES
Whether clients want to outsource the entire internal audit function or just certain areas, our engagements are customized for each client to meet their specific needs.
Information Technology Services
Cybersecurity is a significant concern for all financial institutions. We provide information technology system consulting as well as full-scope information technology assessments and reviews including GLBA, penetration testing, vulnerability assessments, firewall configuration, social engineering, ADA website accessibility, NACHA, and SOC reviews.
CONSUMER COMPLIANCE & BSA SERVICES
The regulatory compliance environment continues to expand in complexity and our professionals can assist in answering questions on compliance matters that are most vital to every institution. We provide compliance services consulting as well as full-scope compliance assessments and reviews including consumer loan and deposit compliance, Bank Secrecy Act and Anti-Money Laundering, fair lending, AML validations, FACT Act as well as compliance training.
EMPLOYEE BENEFIT PLAN/401K AUDITS
Depending on the number of employees, certain financial institutions are required to have their employee benefit plans, including 401K’s, audited. We provide annual employee benefit plan audits by individuals who specialize in these type audits which allows us to not only perform an audit that complies with all related accounting and reporting requirements but to also perform the audit in a very effective and efficient manner in order to minimize disruption.
other ADVISORY Services
COSO 2013 AND SOX 404 SERVICES
We provide a range of COSO 2013 and SOX 404 services, including identifying and documenting key controls, mapping key controls to the control matrix, documenting process narratives, identifying and documenting supporting controls as well as the outsourcing of certain pieces up to the entire ongoing annual internal control monitoring and related testing process.
MERGERS & ACQUISITION ASSISTANCE
We provide a range of merger and acquisition services, including identifying potential merger partners, due diligence, feasibility studies and capital planning.
CURRENT EXPECTED CREDIT LOSS (CECL) TRANSITION ASSISTANCE
We provide transition assistance related to the new CECL allowance methodology, including how a financial institution can use its current loan loss model for CECL, with certain modifications in order to comply with CECL’s new requirements.
INTEREST RATE RISK & LIQUIDITY REVIEWS
We provide annual interest rate risk and liquidity reviews including review of related
policies and required validation testing. We also provide feedback related to how the
policy compares to industry best practices.
ALLOWANCE FOR LOAN LOSS VALIDATION TESTING
We provide annual allowance for loan loss validation testing as required by current regulatory requirements
INVESTMENT POLICY REVIEWS
We provide investment policy reviews as well as testing for compliance with the stated policy and current regulatory requirements.
CALL REPORT PREPARATION
We provide call report preparation assistance, including complete outsourcing of the entire report preparation process, if desired.
We provide fraud reviews including documenting how the fraud occurred, what changes are recommended to help reduce the likelihood of the fraud occurring again as well as obtaining the required documentation to be provided to the bonding company or regulatory authorities.
OTHER SPECIALTY ADVISORY SERVICES
While not as widely needed by all financial institutions, we also provide the following other specialty advisory services to financial institutions including:
- Mortgage-company audit procedures
- Trust company audit procedures
- De novo formation services
- S-Corp conversions
- Valuation services
- FHLB verifications
- Regulation A/B audits
- Cost segregation studies
- Vendor management reviews
The increasing amount of economic nexus regimes that enact statutes specifically targeting financial institutions is often overlooked. For financial institutions that have loans or credit to customers in multiple states, they need to be able to analyze the various state-specific nexus requirements. These financial institutions may be subject to filings for income tax, franchise tax, or both, and may be required to utilize specialized apportionment factors. Please click here to learn more about how our SALT practice can help you.
Together we can do anything
Our focus will always be on you and your needs. Working with more than 175 financial institutions throughout the Southeast guarantees you a team of qualified professionals. We have “large firm” resources with a “local firm” client service approach. We have become recognized experts one satisfied client at a time. Let us be your trusted advisor
to help you achieve your goals.