Outsourcing or co-sourcing internal audit functions are increasingly valuable solutions. Given the complexities of financial institutions, it is becoming increasingly difficult for banks and credit unions to maintain a team of internal auditors who are well-versed in all aspects of the operations. More and more institutions favor the value proposition of outsourcing or co-sourcing their internal audits.
We offer a wide range of internal audit services. Outsourcing or co-sourcing your internal audit with TWHC will allow you to execute projects quickly and with the depth of knowledge and nonbiased approach that management looks for. Our internal audit group is composed of professionals who have been on both sides of the table and understand that pointing out a problem is only the first step; what financial institutions need from their auditors is a pragmatic, innovative solution.
We work with over 100 institutions on an ongoing basis. Our services include:
Our teams develop specific audit plans for your institution and draft audit programs specific to the departments or areas under review.
There are times when you simply must consult outside expertise. The key to success is selecting the right partner. TWHC maintains a team of professionals ready to provide you with customized consulting services that meet your needs and objectives. Because each engagement and each client is unique, it is important that these engagements be staffed with experienced individuals who understand banking operations, and take the time to understand the specific needs of your institution.
The current economic and regulatory environment has led to an increase in criminal and civil actions against financial institution employees who breach the institution's policies and procedures for personal gain. These actions can result in consequences for the accused ranging from civil penalties and monetary damages to imprisonment. A highly qualified forensic accounting team is an invaluable asset for an institution facing this situation.
Regulatory actions and white collar court cases (both civil and criminal) involve complex legal matters and often prove to be onerous. As such, a financial institution filing claim to recoup its losses needs counsel and professional advisors with the necessary expertise. Failure to understand the complex issues of such matters may have a dramatic adverse effect on the eventual outcome of the action.
A comprehensive strategy to address the issues raised in such actions often requires the experience and knowledge of sophisticated and experienced forensic accounting, investigative and finance professionals. TWHC has worked on many small and multi-million dollar claims on behalf of financial institutions and can help reduce the institution's loss exposure.
For more information about a customized range of audit and consulting services for your institution, feel free to contact us.