Banking & Financial Institutions

There is an alternative to the large CPA firms for quality professional services for your financial institution. At Prager Metis we have been working with financial institutions for close to a century: we understand the pressures you are under and the complicated regulatory environment.

Banking and Financial Institutions are facing increasingly rigorous regulatory requirements. You also face many additional challenges, including financial performance, providing shareholder value and competition for your clients.

Prager Metis is a registered accounting firm with the Public Companies Accounting Oversight Board (PCAOB). We have worked with many banking and financial institutions, both internationally and domestically. Our strength falls in working with international institutions and domestic institutions with an international outlook.

Assurance Services Include:

  • Audits and reviews of Financial Statements in accordance with US GAAP and foreign accounting principles (Israeli, Indian), following US auditing standards.
  • Integrated audits of the Call Report (FFIEC002) filings and internal controls over financial reporting to ensure compliance with US regulatory requirements including 12 CFR, Part 363, Annual Independent Audits and Reporting Requirements (FDICIA) for an insured depository institution with total assets of $1 billion or more.
  • Coordinate with head office and parent company auditors for US Branches of foreign Banks.
  • Reviews of commercial, syndicated, real estate and private banking credit portfolios for proper documentation and in accordance with ASC 310 to determine credit quality, indications of deteriorating creditworthiness and necessity for loss reserves.
  • Ongoing consulting regarding compliance and assistance in government filings
  • Represent clients before tax authorities at all levels
  • Conduct tax research and advise and analyze the different tax laws in the countries of operation
  • Tax planning, Compile Tax Returns and Tax Projections

Advisory Services Include:

  • Out-sourced internal audit services
  • BSA/AML risk based independent reviews
  • BSA/AML software validation
  • SOC 1 and 2 readiness reviews and attestations
  • SOC for cybersecurity attestations
  • SOX 404 advisory and compliance testing
  • Internal control risk assessments
  • SEC & CFO advisory and CISO on-demand services
  • IT-GCC assessments and evaluations
  • Cybersecurity risk assessments, network scanning, phishing expeditions, and penetration testing
  • Digital forensics and investigations