Financial Services Group

Our Financial Services Group has a reputation as a leading provider of financial and consulting services in the Southeast. With relationships focused and built on trust, Cherry, Bekaert & Holland provides Professional Services from a Banker's Perspective to a diverse and successful group of financial clients. Through all stages of development – start-up to growth, public offering to owner transition – the CB&H Financial Services Group is there to provide traditional accounting solutions and value-added benefits to our client base.

A committed team of professionals provides audit, accounting and tax services to our financial clients. These professionals are trained in all aspects of financial services, including PCAOB, Sarbanes-Oxley, FDICIA and SEC issues. We utilize a technology-driven, risk-based audit approach, and provide proactive tax planning and compliance solutions to our clients.

Internal audit outsourcing is another important aspect of our service complement. Our internal audit team includes financial institution auditors and industry experts with very specialized competencies. We utilize automated risk-based solutions, and can provide full or partial outsourcing service alternatives. We can bring unique value to institutions approaching the requirements of Sarbanes-Oxley or FDICIA by co-developing an internal audit plan with management that will provide a basis for management’s assertions regarding internal controls.

Industry Experience

The Financial Services Group is made up of team members strategically located throughout the Southeast. This local presence, combined with our regional resource network, uniquely qualifies CB&H to serve regional and community financial institutions thoroughly, efficiently and cost-effectively.

CB&H currently provides accounting and consulting services to over 150 clients in the financial sector, ranging in asset size from $25M to $5B. Clients served by this important specialty niche include:

• Regional and community banks
• Savings banks
• Credit unions
• Mortgage banks
• Broker/dealers
• Asset-based lenders
• Diversified finance companies

Our financial clients are facing intense competition, increased regulation, changing customer expectations, and heightened merger and acquisition activity. As this operating environment becomes increasingly complex, our clients must focus on key drivers of greater growth and profitability. CB&H's Financial Services Group was structured to help clients cope with the realities of the marketplace. We provide proactive and proprietary solutions in areas vital to the strategic and financial success of our clients, covering a wide spectrum of specialized professional services including:

Internal Audit Services

• Partial or full outsourcing
• Process mapping to assist management in assessing internal controls
• Co-develop audit universe and audit plan to comply with regulatory expectations
• Execute internal audit plan that will also assist management in documenting testing of internal controls for PCAOB and FDICIA purposes

Risk Management

• Network security risk posture analysis
• Network penetration studies (hacker testing), security architecture & engineering
• Information security policy development and review
• SSAE 16 (formerly SAS 70) third party reviews
• Disaster recovery & controls testing

External Audit

• Experience dealing with complex accounting and reporting issues unique to the industry

Industry Commitment

Our Financial Services Group consists of a dedicated group of experienced accounting and consulting professionals. This group stays abreast of changing trends and unique issues facing the industry. We network with industry leaders inside and outside of the Firm to help ensure we remain on the cutting edge of theory, technology and practice as necessary to help provide a competitive advantage for our clients.

This thought leadership is reflected in the high demand for our professionals to serve as panelists, speakers and instructors at bankers and community bankers associations in Virginia, North Carolina, South Carolina, Georgia and Florida and at various bank colleges across the region.