It's All About Trust
The Bank was not receiving timely audit reports and feedback on potential improvements that could be made to their internal control structure. Bank staff members were complaining to the CFO that they were having to spend time during the audit training the firm's audit staff due to the lack of staff continuity assigned to their engagement. The CFO was also frustrated by the lack of Partner involvement and communication being received.
The CFO, as well as other members of the Bank's staff, were frustrated with the lack of communication and efficiency of the audit process. The Bank felt as though they were not able to address audit issues in a timely and effective manner due to the timing of receipt of the audit report. Internally, the Bank's staff were discouraged by the lack of their own production during the firm's audit fieldwork because they were spending too much time "training" the audit staff. We were able to come in and provide solutions through staff continuity on the Bank's engagement. We also provided constant communication, including any potential audit findings, during the audit process and delivered a timely report to the Audit Committee.
The Bank is now better equipped to address any issues in a timely fashion; the Bank employees are satisfied that they can continue their normal operations during audit fieldwork rather than putting those on hold, and the CFO has a stronger relationship with ATA and confidence in knowing that he can communicate with the engagement Partner as needed.
ATA has been a trusted relationship partner with Centennial Bank for almost two decades, providing merger consultation, professional accounting, tax, audit and reporting services. The firm’s expertise along with their widely respected regulatory reputation has proven crucial to Centennial’s success. The ATA banking staff’s core philosophy centers upon superior, timely, accurate and responsive assistance to its growing client family. ATA provides assurance in knowing precise and knowledgeable information is a phone call away.
-Laura McAlexander, Centennial Bank
The Financial Institutions Industry is an ever-changing environment. Between growing regulatory and compliance requirements to changes in accounting standards, it is hard to keep up with everything. With a vast wealth of resources, ATA is equipped to meet the needs of our Financial Institution clients. We have several staff and Partners that serve a full-time role in this niche and are therefore able to provide up-to-date, timely resources and answers. Our existing clients know that we are here for them at any time and are always happy to help. This has enabled them to build a strong, confident relationship with us based on relevant information and our desire to see them succeed.
-Jack Matthis, Partner
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