Why should I consider hiring Audit Resource Associates, LLC?
It is very expensive to hire and pay all the costs of a full time auditor and staff with our skills and experience. Associated cost include, but may not be limited to:
Additionally, Audit Resource Associates, LLC provides you with an experienced team versus one individual.
What are the advantages vs. converting one of our employees to an auditor?
Audit Resource Associates, LLC brings your institution professional auditors and consultants capable of working day one versus an individual with various employee ties, which result in a lack of independence and requires several years of training and education to become a minimally effective auditor.
How long will it take to develop and implement an audit program for our organization?
We have developed standard audit programs for all types of banks, credit unions, mortgage companies and trust companies, which can be customized and implemented immediately.
How different is Audit Resource Associates, LLC from our present external auditor?
Your external audit firm performs annual financial audits, which, concentrates on accounting functions and issues versus internal control reviews. The internal control reviews test all significant functions and control points.
How will Audit Resource Associates, LLC interact with our institution?
First, employees will be reassured that we are the auditors that are on their side and are working in their best interest. Secondly, Management will be given an opportunity to review a draft audit report prior to final issue; however, issues and comments in dispute will be settled at the appropriate level by prior arrangement. Finally, we will report directly to the appropriate committee of the Board of Directors and issue all final reports to their attention unless other arrangements are requested.
What does Audit Resource Associates, LLC do for the Board?
We are an independent action team with the ability to raise the Board's confidence level relative to their fiduciary responsibilities and the sufficiency of the institution's internal control system.