Examination Response Assistance

If you experience an regulatory audit that identifies areas of your organization needing serious attention, our experienced consulting professionals can help your team respond.

Why should my organization consider post-examination consulting?
Regulatory audits are a recurring reality of the RIA world, and post-examination consulting can help you develop a plan to rectify any audit deficiencies.  A poor audit report and/or a downgrade in ratings jeopardizes the organization’s other accomplishments.  Plans for the future must be put on hold until problems identified in the examination report are corrected.  Examiners will continue to monitor the corrections closely to ensure that changes are made to avoid further problems.

Future profitability is negatively affected by this ongoing distraction. Once the problem is identified, the more aggressive and proactive the remediation the better to limit the short and long term effect on the organization.  It is important to remember that audit findings that are not remediated properly and that do not stay corrected will result in your regulators involving the board of directors and board members personally to ensure appropriate remediation.

Post-audit consulting is a valuable tool to quickly and proactively avoid negative effects on profitability, reduces the audit remediation affect on the rest of the organization, and limits the need to involve board members on an individual basis.

What are the specific benefits to my organization from Post Audit Response Assistance?
Post Examination Response is usually an urgent, highly-visible and emotional project for your entire organization and without external help it can seriously impact the other priorities of your team – such as client service, compliance officer training, business development and the myriad of other projects you might have underway, all of which affect profitability and potentially your next exam or audit.  Utilizing an experienced third party can be very positively perceived by regulators and senior management in that you have taken the concerns seriously, obtained professional help and have addressed the concerns aggressively and proactively.