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NICHOLS, CAULEY
& ASSOCIATES, LLC
Overview of Services
We have been actively engaged in audits of financial
institutions since 1976. Our financial institution
practice is based on professional service, which is
reinforced by:
- Professional team attendance at Continuing Professional
Education Schools and seminars devoted to financial
institutions
- Multi-professional designations of team members
(CPA, CFP®, CVA, CIA, and CGAP)
- Subscribing to and utilizing SEC reference material
- Subscribing to and utilizing audit and accounting
manuals and update services designed for financial
institutions
- Subscribing to and utilizing a regulatory compliance
manual and update service
- Annual or more frequent firm in-house planning
and training retreats to make sure all team members
participating in financial institution engagements
are up to date on happenings within the financial
institutions industry and understand the responsibilities
they will assume with each of our financial institution
clients
- Subscribing to and utilizing financial institution
tax reference services
- Interfacing with other professionals servicing
the financial institution industry
- Listening and responding to our clients and friends
in the financial institution industry
- Subscribing to and utilizing microcomputer software
and update services for professionals servicing
financial institution clients
- Experience obtained providing professional services
to clients in other industries
- Expertise and training on implementation of new
FASB pronouncements
- Presentations for various financial institutions
and organizations concerning topics applicable
in the financial institution environment
Several of our professional team members
began their financial institution audit experience
prior to joining our firm. The experience brought
to the firm yields experience in:
- Regulatory Reporting
- Denovo Processes
- Employment Assessments
- Internal Control Evaluations
- Multibranch Operations
- Holding Companies
- Mergers and Acquisitions
- Electronic Data Processing
Nichols, Cauley & Associates, LLC
provides many different types of services to our financial
institution clients as requested including:
Accounting - Auditing:
- Audits of financial statements
- SEC filings and requirements
- Development of customized internal audit programs
and manuals
- Bank holding company formation and reporting
- Subsidiary spin-off accounting services
- Compilation and review of financial statements
- Acquisition - merger analysis
- Premises and equipment accounting - depreciation
- Leasing evaluations
- Projections and forecasts for capital planning/budgeting
- Special reports on agreed upon procedures
- EDP Audit or Review
- Implementation of SFAS’s
- Monthly or quarterly internal audit procedures
- Various other accounting and auditing consultation
and procedures
- ACH
Tax Consultation and Preparation:
- Entity Structuring for Tax Savings
- Return preparation - Federal, State and local
- Premises and equipment accounting - depreciation
- Specific issue research
- IRS examination representation
- Private Letter Rulings
- Tax planning - projections
- Implementation of tax compliance matters
- Alternative minimum tax computations
- Various other tax consultation and preparation
matters
Strategic Planning:
- Management Succession Planning
- Business Valuations
- Incentive Compensation Planning
- EDP equipment purchase evaluations and assistance
- Information system consultation
- Operational reviews
- Loan portfolio analysis
- Quarterly loan evaluation procedures
- Establishing criteria and documentation for internal
loan watch list
- Multibranch and operational reorganizations
- Internal control and work flow analysis procedures
- Establishment and updates of investment and liquidity
policies
- Facilitating and leading Board and management
planning retreats
- Development, implementation and monitoring of
strategic plans
- Various other consultation engagements
We have also performed procedures on a troubled bank under
a joint engagement agreement with the FDIC, Georgia Department
of Banking and the financial institution. This was a unique
engagement in that we were brought in to be independent
of the two agencies and the financial institution. All
three of the engaging entities signed the engagement letter,
agreed for us to have access to their documentation, workpapers
and staff, and all reports were issued to all three entities.
Our approval and final selection by the two regulatory
agencies was based on our knowledge of community financial
institutions, our experience in auditing community based
financial institutions, our knowledge of computer based
financial applications, and the experience of our management
team in performing specific loan receivable evaluations.
We advised the interim management group, recruited
a successor CEO for the financial institution, and
assisted in the ultimate sale of the institution to
a much stronger organization.
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