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Audit Services

Unlike other firms, HORNE develops a tailored audit plan for every client to mitigate inherent and operational risks specific to your institution. Each plan is developed based on our understanding of internal and external factors, and each plan is influenced by the results of previous audits, our industry knowledge and our in-depth discussions with you. Throughout the audit process, HORNE emphasizes responsiveness and open communication as we offer advice on industry trends, operational improvements, regulatory challenges, and profit enhancement opportunities.  HORNE's financial institutions team has the knowledge and experience to assist you in meeting the complex accounting and disclosure requirements.

External Audit
HORNE has a traditional risk-based, "common sense" external audit approach.  This approach still involves procedures based on the age-old premise of corroboration and confirmation, but we have added elements to create more value for your institution by focusing on your unique risks.  Throughout the audit process, HORNE places substantial emphasis on the need to thoroughly understand your operations and your fundamental business strategy.  Although our primary objective is to render an audit opinion, we are keenly interested in your growth, profitability and overall success.  As your auditor, we will share our experiences and best practices with you, provide our interpretations of accounting and regulatory guidance, as well as share examples of prudent disclosures. 

The HORNE Approach to Audit Services

Communication with clients is the hallmark of our firm and at the heart of HORNE's culture.  We encourage continual communication with our clients, so we are aware in advance of new challenges or issues facing them.  We base our financial institutions practice on the principle that knowledge gained is knowledge shared, and we employ this principle both internally with our team and externally with our clients.

Employee Benefit Plan Audits
Federal law requires that most employee benefit plans with 100 or more participants undergo an annual audit and submit the audit report along with the form 5500 filing to the Department of Labor (DOL).  A quality audit can assist the plan administrator with monitoring the assets and integrity of the plan. The DOL's rules and regulations for plan administrators are complex and complicated.  HORNE's financial institution's team includes professionals who are informed regarding these rules and regulations and can assist you in achieving compliance with DOL rules and regulations and guide you through the annual reporting process. 

What HORNE Delivers
HORNE utilizes a risk-based approach that focuses on those systems and processes that are essential to your operations. Our audits involve:

• A team of professionals who are experienced in serving financial institutions
• Maximum utilization of your internal resources to most effectively leverage the audit
• Reliance on internal controls to the extent appropriate
• Risk-based approach allocating time to the right substantive tests
• Use of modern technology, including electronic work papers and audit data extraction software where appropriate, to reduce clerical efforts and achieve an efficient audit process

For more information on HORNE's external audit and other assurance services, contact Rusty Butcher, James Gordon or Hans C. Pettit.