There is a seemingly never-ending issuance of new accounting policies and standards and modifications to existing standards. For financial institutions, keeping in compliance has become a challenge. With each change in requirements, institutions need to revisit internal processes to modify or adjust how processes are conducted or data captured and reported according to new or expanded requirements.
Recently, much of the changes in GAAP have been centered in the mortgage lending processes and products such as TDR accounting and SOP-03-3 accounting.
Navigant has the specialized skills to help institutions with their compliance needs. Navigant’s team combines product, accounting and systems expertise to create and implement solutions addressing GAAP applications.
Navigant’s areas of expertise include:
- Evaluation of new standards and the implementation of accounting pronouncements
- Accounting policies for individual transactions
- Acquisition due diligence in evaluating accounting policy risks
- SEC comment letter resolution
- Pre-clearance process at the SEC
- Whisteblower or other accounting investigations
- Training professionals on new or existing accounting pronouncements
- Audit support
- Regulatory requirements including FRB, OCC and Dodd-Frank