Become "Audit Ready"
Spending too much time preparing for audits and getting flagged for not meeting client requirements can hurt your firm's profitability in two ways:
1. Loss of Productivity - Important people at your firm are spending valuable time preparing for audits, rather than moving files.
2. Loss of Opportunity - Performance on client audits dictates the amount of business (referrals) the client sends to your firm; receiving remediation requests and being unable to address these requests can ultimately limit the number of incoming referrals your firm receives
Even though servicer requirements continually evolve, the foundation of being "Audit Ready" remains constant. Building such a foundation allows your firm to spend less time and fewer resources preparing for audits and will improve your performance on these audits.
Advanture Audit Prep Service
Advanture provides an Audit Prep service to help your firm build the foundation and infrastructure and develop the appropriate policies and procedures that firms must have to pass client audits. In order to develop this foundation Advanture will:
- Review current IT architecture
- Review current Policies and Procedures, including change management
- Review Business Continuity Plan and Business Impact Analysis
- Review Incidence Response Plan
- Analyze gaps and determine activities, which may include policy preparation, procedure documentation, training, and IT projects to meet short term and long terms needs
After your firm is "Audit Ready" Advanture offers consulting services (at your request) to prepare for any specific client audits or address any pressing remediation issues.