BANK OPERATIONS / INTERNAL CONTROLS AUDIT
Performed by ICBA Certified Community Bank Internal Auditors and BAI Certified Risk Professionals. Regularly scheduled audits of your bank’s operations form the cornerstone of a successful risk management program. Our risk-based audit program is innovative and reflects state-of-the-art practices and techniques. Here are some important features:
- RMG tailors every audit specifically to your bank’s operating style and we focus on the Design and Operation of your bank’s internal controls.
- Audits are frequently performed off-site in keeping with the "eExam" approach adopted by the FDIC and the DFI. This saves audit time and preserves precious expense dollars. [Reference:http://www.fdic.gov/news/news/financial/2007/fil07053.html]
- RMG utilizes automated data-mining techniques to more fully analyze the samplings taken in the audit. In many cases, we can assess 100% of a given population which may reveal irregularities or patterns that could indicate control weaknesses or fraud. This is a far more objective, efficient and effective audit methodology than the traditional subjective audit tools used by our competitors.
- We employ a “Root Cause Analysis” approach to identify why deficiencies occur and we present our findings in a manner that facilitates the Audit Committee’s understanding of problematic areas.
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