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Case Study Fifteen: Special Projects and Reconciliation Specialist for a Nationwide Bank

Summary Level

A large public company financial institution required an audit and reconciliation specialist to lead various special projects and reconciliation efforts throughout the bank.

Details

Client’s Situation:

A large public company financial institution required an audit and reconciliation specialist to lead various special projects and reconciliation efforts throughout the bank. Various departments around the bank had miscellaneous transactions and unreconciled items in suspense accounts.

Accounting and Business Consultant’s Engagement Role:

We were engaged to provide a qualified leader and specialist for this role and requirement at the bank.

Engagement Results:

Management was extremely happy with the resource provided by our firm. Reconciliation procedures were developed and implemented for various departments. Timely follow up on investigating and resolving reconciling items became a focus and the volume of such differences decreased over time. For 2 years, the bank continued to utilize our consultant and eventually hired this person full time.