Internal Audit for Financial Institutions

With specialists in the financial institutions industry, Wolf's internal audit professionals can customize our experienced Internal Audit services to the needs of your financial institution in operational and financial areas such as:

Lending

Review real estate, commercial and consumer lending areas. Areas covered include secondary market activity review, loan documentation, adjustable rate loans, accrued interest receivable recalculations and loan payoff processing.

Finance

Evaluate management's effectiveness in performing Asset Liability Management in accordance with Federal Financial Institutions Examination Council (FFIEC) requirements. Review investments for proper accounting, authorization and completeness.

Operations

Conduct the annual National Automated Clearing House Association (NACHA) audit of the Automated Clearing House (ACH) function. Review wire transfer origination, receipt and controls for compliance with best practices. Assess other electronic banking and accounting functions.

Branches

Determine if cash controls, negotiable instruments and physical security are being handled in accordance with your financial institution's policies, procedures and best practices.

Non-Deposit Investment Products

Verify compliance with the FFIEC Interagency Statement on the retail sale of these products to customers.

Trust

Evaluate policies and procedures over asset activity, physical controls and whether fiduciary responsibilities are being conducted in compliance with Regulation 9.

Human Resources

Review controls over processing employee payroll and benefit plans.

Insurance Agency

Evaluate policies and procedures over insurance activity and physical controls are being handled in accordance with the institution's policies, procedures and best practices.

Please contact Scott C. Baranowski, CIA, (617) 428-5413 to obtain more detailed information on these services.

Wolf and Company, P.C. is one of the only firms in New England that provides comprehensive risk management solutions including, information technology assurance, internal audit and regulatory compliance services. We also offer WolfPAC^SM, a secure, on-line suite of control assessment services providing on-going self-evaluation and professional analysis of a control environment.