The Right Business Accounting Firm for Your FDICIA Compliance Needs
Today’s economic environment has set the stage for many financial institutions to be newly concerned with FDICIA compliance. Through mergers, acquisitions and organic growth activity, many financial institutions are now being subjected to meet strict financial compliance standards often before they have had time to adequately prepare.
At PKM, our approach to FDICIA compliance is built on the concept that management should employ a top-down, risk-based evaluation. By adopting a helpful and consultative role in your financial compliance, we work with you towards a common goal, ensuring that you not only meet your FDICIA compliance requirements, but that you are also well-positioned for future success.
A Comprehensive Approach to FDICIA Compliance
Many times we see financial institutions that isolate FDICIA compliance requirements from the larger internal audit function. While this approach can help ensure financial compliance because testing and documentation are tracked individually, it can also lead to significant inefficiencies – primarily through the duplication of labor. Integrating FDICIA compliance with your overall internal audit function allows you to streamline business processes and reduce duplicative controls.
As a leading business accounting firm, we stay well-versed on these regulatory fronts, including FDICIA compliance, so that we can anticipate your questions before you need to ask. And, because our approach is centered on a risk-based testing plan, you can rest assured that the work is tightly integrated with your complete business strategy and maximizes the efficiency of the resources you already have in place.