Audits & Exams

Bank Document Retention

Retention: Not All Document Management Systems are Created Equal

by Cathy Cirullo • October 15, 2018

Not all document management systems are created equal – especially when it comes to ensuring compliance with your retention policy. In this post, we’ll explore several common approaches to bank document management (and why most of them fall short). We’ll also discuss why our purge feature in AccuAccount is transforming how financial institutions maintain compliance. […]


[Webinar Preview] Audit Preparation in AccuAccount

by Jennifer Mitchell • March 29, 2017

Preparing for an audit is a major pain point for most financial institutions. In fact, when we surveyed 187 community banks, more than 91% of the institutions stated that preparing for an external audit or exam would take a minimum of five hours. A document management system that offers electronic audit/exam preparation can save your […]


Audit Prep: Why a Paperless Approach Makes Sense

by Alan Wooldridge • March 21, 2017

Disclaimer: The following post was originally published on the Commercial Finance Association blog. (Re-posted with permission.) How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results were astounding. According to our research, 91% of banks surveyed require more than five hours of prep time per […]


How to Prepare for an Audit in 5 Minutes

by Jennifer Mitchell • July 9, 2015

Audit and exam preparation can cause significant pain points for many financial institutions. This is especially true for banks still relying heavily on paper-based loan and credit files. In fact, in an AccuSystems survey of 187 community banks, 91% of institutions stated that a minimum of five hours are required to prepare for external audits […]


Electronic Quality Control of Documents

by Jennifer Mitchell • June 29, 2015

It’s important to conduct quality control on a regular basis to ensure that the information in your document management system has been uploaded and recorded accurately. The last thing you want is to have an auditor or examiner raise a red flag for a simple administrative oversight. In the 21st Century banking environment, there’s really […]


Request for Proposal: What to Consider When Selecting an Audit Firm

by Jennifer Mitchell • December 8, 2014

Whether it is a result of internal policy, or simply dissatisfaction with your current provider, it is inevitable that you, as a bank executive or director, will be thrust into the audit and accounting firm selection process. If you are satisfied with your current provider, then the process can be quite simple: tailor your request […]


Financial Statement Audit: Preparation is Key

by Jennifer Mitchell • November 11, 2014

Year-end is quickly approaching, which means that the annual financial statement audit is also on the horizon. Hopefully, most institutions have had ongoing discussions (throughout the year) with their accounting firms, relative to transactions or issues that may be of significance to the audit. Following are a couple of quick tips that lend efficiency to […]


Study Reveals 91% of Banks Require 5+ Hours to Prepare for Audit

by Jennifer Mitchell • October 6, 2014

Financial institutions continue to seek ways to streamline processes and increase efficiency. Audit and exam preparation are proven pain points for many financial institutions, requiring significant amounts of time for proper preparation. Technology has helped streamline these processes; however, we were surprised to discover that over 81% of financial institutions use some form of paper […]


Overcoming Frustration: Audit & Exam Preparation at a Bank

by Jennifer Mitchell • September 11, 2014

What are your biggest frustrations when it comes to preparing for external audits and examinations? To answer this question, we recently surveyed 187 community banks. You can download a summary report of the study here. After looking at all of the answers, we feel that one banker summed it up nicely when he said: 1. […]


“Audit Export” Simplifies the Audit and Exam Prep Processes

by Jennifer Mitchell • September 30, 2013

Looking for a way to simplify the audit and exam preparation processes? Sick of looking through piles of files and paperwork only to discover that a document is missing? With AccuAccount, preparing for an audit is as simple as opening the application, selecting the desired customers and accounts, and downloading them to a disc. Our […]


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