Banking is a closely regulated industry and the guardian of the public’s financial assets. Financial institutions are required by bank regulators to have an internal audit function that is appropriate to its size and the nature and scope of its activities. PBS recognizes the uniqueness of each of our clients and will provide a fresh look at internal controls, procedures and practices in the development of an objective and comprehensive risk-based internal audit program.
PBS offers an effective internal audit function that independently evaluates an institution’s internal control systems. Our services are offered on a fully outsourced basis or as a complement to an existing internal audit function (co-sourcing). PBS provides an effective, cost-beneficial program that will meet the requirements of regulators, external auditors, management, the Board of Directors and stockholders.
Our staff of seasoned professionals understands the financial industry and is experienced in evaluating systems of internal control, risk assessment and risk management.
PBS’s internal audit services include:
- Development of a Risk Assessment
- Assessment and review of the existing Internal Audit function
- Development of an annual Internal Audit Plan and implementation of the Internal Audit program
- Follow-up and effective analysis of previous Internal Audit reviews and reports
- Out-sourcing or co-sourcing of the Internal Audit function
- Continuing professional education/training
- Assistance with Regulatory Enforcement action
- Information technology and information security auditing and analyses, including vulnerability and penetration testing
- Internal control structure reviews
- Assistance in compliance with Sarbanes Oxley Section 302 and Section 404
- Trust department audits and reviews
- Secondary mortgage market reviews
- Secondary mortgage market quality control services
- Operational reviews of departments or areas with the Bank, Holding Company, or subsidiary