Financial Institutions

Build the Right Foundation for Your Internal Audit Plan

Leverage Key Best Practices, Cost-Savings, Independence and Peace of Mind with Wipfli’s Internal Audit Services.

Are you struggling to develop a comprehensive internal audit plan? Does your internal plan focus too much time on lower risk areas and not on the areas that will have the greatest impact? Wipfli can help your financial institution in five key areas:

1. Build the Right Foundation for Your Internal Audit Plan with a Risk Assessment

To satisfy regulatory guidance, your financial institution must have an internal audit program commensurate with your size and risk profile. But to create this plan, you need a tailored risk assessment — not a one-size-fits-all solution.

2. Co-Sourcing Could Be Your Ideal Solution

By co-sourcing your internal audit with Wipfli, you don’t have to worry about any gaps in your internal audit department’s knowledge. Our team’s vast experience and capabilities allow us to collaborate with you to perform a smooth internal audit that also provides a greater layer of independence and objectivity.

3. Outsourcing Makes Your Internal Audit Cost-Effective Yet Comprehensive

Greatly reduce the setup and maintenance costs of an internal audit department. Wipfli’s outsourced internal audit solution means you don’t have to worry about turnover, gaps in expertise or whether your organization has grown too large for a single internal auditor. Our team provides best practices and specialized knowledge so that your staff can focus on their core priorities. Plus, you also ensure independence and objectivity.

4. Build Your QAIP, Implement Improvements and Make Sure You Comply

Whether it’s time for your external assessment, or you want to make sure you transition to IIA standards the right way, Wipfli is here to help. Use our team to help build your QAIP, implement any improvements and make sure you comply with IIA standards.

5. Get Ready for FDICIA

Provide reasonable assurance, safeguard assets and increase the reliability of financial reporting with Wipfli’s FDICIA solutions. Wipfli performs a variety of services to help your bank comply with FDICIA, including:

  • Working with you on your top-down risk assessment.
  • Executing walk-throughs to identify significant accounts and controls.
  • Performing processing control documentation and testing to determine if your controls are designed and operating effectively.
  • Documenting the results and helping solve any issues.

Learn more or get started with our internal audit services by filling in the form.

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