Financial Institutions

Services for Financial Institutions

Business Advisory

  • Internal Audit Outsourcing/Co-sourcing
  • Regulatory Compliance Audits
  • Bank Secrecy Act/Anti-Money Laundering Audits
  • Outsourced Loan Reviews
  • Asset Liability Management/ Interest Rate Risk Audits
  • ACH Audits; Penetration Testing and Network Vulnerability Scans
  • Sarbanes Oxley (SOX) Compliance
  • Consulting Services
  • De Novo Application Process Assistance
  • Development of Policies and Procedures
  • Fraud Investigation
  • Enterprise-Wide Risk Assessment
  • Regulatory Liaison
  • Loan Portfolio Stress Testing
  • Risk Assessments
  • System Conversion Consulting

Audit & Attestation

  • Financial Statement Audit
  • Director’s Examination
  • Supervisory Audits
  • SSAE 18 Engagements
  • Employee Benefit Plan (401k) Audits
  • FFIEC (Federal Financial Institutions Examination Council) Information Technology (IT) Reviews
  • Trust Audits

Tax Planning & Compliance

How We Can Assist Current Financial Institutions with Operations, Accounting, and Tax Issues

New Lease Accounting Regulations

These new accounting rules could impact bank loan covenants as they might change the borrowing base for many loans.

How to prepare: Briggs & Veselka is already working with financial institutions and their clients to advise them on the possible implications of these new accounting regulations; the intent is to help them prepare possible revisions to existing covenants, and as guidance for future loan agreements. For more information, contact Terry Sherrill at

Loan Review Efficiency

Many smaller banks and credit unions wish to increase the effectiveness or efficiency of their loan reviews, but are often challenged by the lack of qualified personnel, particularly in smaller markets with a limited labor pool.

How to prepare: Briggs & Veselka offers outsourced loan review process, either on a turnkey or project basis. The work is completed by former bank loan review professionals, resulting in greater efficiency and better internal cost controls. For more information, contact Terry Sherrill at

Chip Technology

As regulations requiring credit card issuers and their customers to shift to imbedded chips, there have been increasing operations and liability issues.

How to prepare: Our banking group, in conjunction with our retail and restaurant industry groups, has taken a proactive approach on how to address the operations, IT security, and ancillary issues related to the changeover, designed to be helpful for smaller banks who might lack the IT experience in dealing with these issues.  For more information, contact Terry Sherrill at

FDICIA Application Process Assistance

As banks reach the deposit threshold, they must begin the process of adjusting operations and financial reporting requirements to meet stricter standards.

How to prepareOur integrated team of CPAs specializing in banking, in concert with our Business Advisory Services group, can provide an integrated road map on making the shift, and can offer insights into the possible issues, based on working with other banks who have experienced the changeover. For more information, contact Terry Sherrill at


David Phelps

Business Advisory Shareholder, CPA


Terry Sherrill

Business Advisory Shareholder, CPA


John Flatowicz

Managing Shareholder, CPA


Jason Sanders

Tax Department Chair, CPA

East Texas Banking Symposium
March 28 – 29, 2018
click for event details

Bank Client Testimonial

“I am impressed you completed the back testing report so quickly compared to your competition that took nine months before I had a report. I know we have engaged a superior firm to perform our audit work now.”

Executive Vice President of $500M asset Texas bank

Terry Sherrill - Banking practice

Fast Facts

  • One of the largest financial services practices in Texas, offering sophisticated operations consulting in addition to audit and tax compliance
  • The Briggs & Veselka team consists of former bankers, regulators, internal auditors, loan review professionals and consultants, delivering practical solutions based on actual financial services experience
  • Insights into the unique aspects of banks, credit unions, mortgage companies, investment companies, and other financial services organizations
  • Team professional designations include Certified Bank Auditor, Certified Internal Auditor, Certified Financial Services Auditor and CPA