To Approve or Not to Approve: That is the Question
Each time a lender is faced with the decision to approve a new loan or modify an existing loan, they are faced with the possibility that loan may not turn out as expected. You, the lender, want to be "customer friendly," but you also want to make a knowledgeable decision that will benefit both your customer and the bank.
Reliable information is the best tool for making the right decision. Utilizing our bank assurance services, we can help provide you with the information you need. Our vast experience has helped us gain a thorough understanding of the lending function and the lender's perspective, helping us to investigate and report financial and/or non-financial information to facilitate your lending decision.
Bank assurance services are performed as an agreed-upon procedures engagement in which we are engaged by you to issue a report of findings based on specific procedures performed on your customer's financial and/or non-financial information (subject matter). We can help you determine the specific procedures to be performed based on your needs, concerns, and cost considerations.
The scope of these services is more focused than an audit of the financial statements as work is performed only in required areas; therefore, these types of engagements are less expensive than an audit. The cost is determined by the extent of the procedures to be performed.
Our engagement will be conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants (AICPA). A shareholder or manager of the firm leads every engagement providing you with independence, integrity, objectivity, and competence. Our written report will show the results of each agreed upon procedure of the engagement.