The Challenge

Locally owned and operated, Stephenson National Bank & Trust (SNB&T) needed a solution for its internal audit function when its auditor accepted another position within the bank’s organization. With over $160 million in assets, the internal audit function and subsequent search for a solution was important to the SNB&T business. 

The Strategy

As the bank’s trusted business advisor for nearly 20 years, Wipfli offered the level of expertise SNB&T needed. Wipfli provided seasoned financial institution auditors with a diverse and comprehensive set of skills to help maintain the bank’s internal audit function. Working together, Wipfli and SNB&T then developed an internal audit strategy to address the major risk areas for the bank’s size and operations.

The Results

By protecting and enhancing its internal audit function, SNB&T was ensured of its continued stability. Wipfli’s team of internal auditors contributed an outside perspective to the bank, and offered best-practice solutions to the challenges facing SNB&T.  

• Maintained internal audit function without disruption
• Improved risk management strategies