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BSA Compliance

Our Firm performs numerous BSA compliance engagements, either as part of a larger internal audit engagement or as a stand-alone engagement.  The 2010 FFIEC BSA/AML Examination Manual states that although “the frequency of [the independent] audit is not specifically defined in any statute, a sound practice is for the Bank to conduct independent testing generally every 12 to 18 months, commensurate with the BSA/AML risk profile of the bank.”  The Manual also states that “the persons conducting the BSA/AML testing should report directly to the Board of Directors or to a designated Board Committee comprised primarily or completely of outside directors.”  Our procedures rigoroursly test your compliance program and verify whether it adheres to applicable federal regulations.  We will help you identify weaknesses and provide recommendations to address deficiencies.  If you are interested in a proposal for this service, please let us know and we’ll be happy to provide a list of our BSA client references and, if desired, a formal bid for your independent BSA audit.