Internal Audit, Banking and SOX
Our Internal Audit Risk and Compliance Consulting services are designed to help enhance the efficiency and effectiveness of internal audit functions and the IT Environment. Our team works with organizations to optimize their enterprise risk management programs, internal controls, review third-party relationships, and comply with regulations and governance, and sustainability initiatives. Aside from our high technical competence and efficient processes, we provide the highest-rated client service locally, with hands-on consulting that provides assurance and peace of mind to our clients.
Looking closer and deeper.
Our insightful consulting covers many bases of your operations, to ensure that your organization stays compliant, its operations are aligned with your strategy, and the processes are lean, efficient, and sustainable. By taking a closer, informed look at your company’s operations, finances, and legal requirements, your brand will stay ahead of the curve and achieve a higher level of industry leadership.
Complete suite of services
Our firm brings together a suite of services and consulting insights that perfectly complement each other to produce the greatest level of assurance for our clients. Since every business faces its own set of unique challenges, we have an array of tools, backed by the expertise of some of the best-rated partners and consulting staff, to will optimize your financial infrastructure, reduce risk, and enhance your organization’s performance.
Turnkey Compliance Consulting
- We provide in-depth consulting for clients in the banking industry in matters of Consulting Engagements to clients based at Commercial Credit Division-Asset Based Lending, and Compliance examinations of prospective clients in the Commercial Credit Division-Asset Based Lending.
- Agreed-upon procedures
- Prospective Financial Statements
- Reports on Compliance
- Information Technology Review and Compliance
Sarbanes Oxley (SOX)
We are also a qualified firm with expertise in the Sarbanes-Oxley Act of 2002 (SOX) compliance testing and project management background to perform compliance testing services (in accordance with SOX Section 404).
Our team has completed assessments and testing at financial institutions over the following business cycles:
- Entity Level
- Financial Reporting
- Information Technology
- Accounts Payable
- Commercial Lending
- Consumer Lending
- Controllership
- Deposits
- Mortgage Lending
- Mortgage Servicing
- Payroll
SSAE 18
SSAE stands for Statements on Standards for Attestation Engagements, and SSAE 16 is an attestation standard established by the American Institute of Certified Public Accountants (AICPA) to report on the controls and services provided to customers by service organizations. SSAE 16 replaced the SAS 70 audit standard. SSAE 16 compliance requires the service organization’s management to provide a written assertion about the fair presentation of the information system’s design, controls, and operational effectiveness in addition to previous requirements. Trust our team of experts to guide you through the process and stay compliant.
Internal Audit Projects
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve your organization’s operations. A detailed audit can help your business to accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. The process provides crucial insights that improve the experience for all stakeholders.
Governance and Risk Assessments
Organizations need to leverage a prescriptive, repeatable, and mathematical approach to risk management. Using such an approach to quantify and mitigate risk demonstrates intentional corporate action to deal responsibly with risk, which can soften the hard edge of legal and regulatory action. Our department is equipped with professionals dedicated to delivering effective solutions to best suit your company’s needs while reducing risk and improving security by helping develop Risk Assessments for all operational and financial areas, including Information Security/Cyber Security.
BSA and Asset Based Lending
To secure an asset-based loan, organizations must come to the table with financial information that is detailed and accurate. Our team can help yours make lenders feel comfortable with a credible case for long-term viability, as well as professionally-prepared financial statements that prove you have a handle on the business.
Development of Policies and Procedures
Policy and procedure documentation drives organizational performance. Well-defined Policies and Procedures provide a basis for an organization to analyze and evaluate effectiveness across many complex topics and routinely provide guidance for senior management and line staff. Our team can assist in developing and implementing policies and procedures that accomplish the alignment of the key management process to strategic objectives for your most important Operational and Financial areas. By providing invaluable step-by-step protocol and instructions, your team will be equipped with a clear roadmap to success. P&P Guidelines are also used by internal and external auditors to determine the effectiveness of business controls and overall business practices.
Our team’s unique approach
Here are just some of the key differentiators that add immense value to the client experience when partnering with our team:
- As a licensed CPA firm, SOC1 and SOC2 audits are one of our specialties.
We deliver several SOC1 & SOC 2 reports per year for multiple clients in the healthcare and technology segment. - Your trusted team of Information Security professionals Galíndez LLC are experts in the subject matter, holding certifications like CPA, CISSP, CISA, and CRISC, to help your organization stay SOC compliant.
- Our audit process helps reduce the complexity of compliance efforts and gives our clients the ability to combine multiple audit frameworks into one audit.
- We have matured this process so that clients can complete one audit process while receiving multiple reports if needed. This translates to reduced compliance and audit costs for our clients.
Benefit from significant savings
Our team has been performing engagements like these for the past 5 years, allowing us to streamline our processes for the best possible client experience. Through our vast experience with SOC1 / SOC2 engagements, we have developed well-structured workflows, standardized worksheets, and an efficient schedule of work. Thusly, we have developed the tools and know-how to ensure a cost-savings reduction of nearly 20%-25% if compared to the current feeds billed by Big Four firms.
25%
average savings vs big 4
Internationally Connected
As a proud member of Nexia International, one of the world’s leading networks of independent auditing and consulting firms, Galíndez LLC is united with like-minded, trusted professional firms, providing expert advice in all commercial and private aspects of financial business solutions.
Galíndez provides in-depth consulting to a variety of clients (across multiple industries) in Puerto Rico, Panama, Aruba, and Curacao. We can also serve clients in Florida, New York, Dominican Republic, and all other Caribbean Islands.
From FPVG Pulse: #SOX Insights
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Specialized Industries
Our firm has worked with partners across many industries and of all shapes and sizes. From small private companies to government agencies, to massive healthcare and consumer companies, to nonprofit and everything in between. See our list of industry specialties to learn more.
Meet Our Team
Meet our firm’s leadership and the amazing talents that make our firm one of the most prominent accounting and consulting firms in Puerto Rico. Our highly qualified partners holds over a century of combined professional experience, which firmly supports our proven record of success.
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Looking to further your career at a place of excellent reputation and with an amazing culture? Join our team of top-notch professionals in the field of accounting, audit, tax, management consulting and more, and learn how our multidisciplinary approach makes us such a strong industry leader.