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Compliance Testing and Audits

SERVICE OVERVIEW

Regulators expect financial institutions to develop and implement a formal regulatory compliance program designed to assist in effectively managing business risk and compliance concerns inherent in a fiduciary environment.  Compliance with laws, regulations and internally developed policies and procedures is a fundamental element of a sound compliance program.  Kropschot Consulting Partners’ skilled and experienced team stands ready to perform risk-based compliance testing, audits and other reviews.  Upon completion of our work, we produce and distribute written reports of findings to leaders, governance committees and the board.  We also perform follow-up to verify that corrective actions have been implemented timely and completely.

Compliance Services
Trust Audit Services
We offer independent audit services that enhance decision making, improve operational efficiency, strengthen risk management, boost compliance and regulatory preparedness, increase transparency and credibility, and strengthen internal controls. We perform independent, objective evaluations of fiduciary and operational processes to ensure alignment with legal and regulatory requirements, as well as internal requirements and standards.
  • Annual Fiduciary Audits - Conducting robust, risk-based audits of fiduciary activities, to evaluate compliance with laws, regulations, industry guidance, and company policies and procedures.
Each audit is performed with a disciplined methodology, supported by subject-matter experts who understand the nuances of trust administration, fiduciary risk management, and legal and regulatory obligations.
 
Why Trust Companies Choose Us
  • Deep Expertise in Trust Company Regulation - We specialize exclusively in trust company compliance and audit support. Our team brings decades of combined experience working with trust companies and bank trust departments. We understand fiduciary risk, regulatory expectations, and what examiners look for, which allows us to provide practical, high‑value insights rather than generic observations.
  • Scale That Supports Growth - Whether you manage a dozen accounts or several thousand, we have the resources and capacity to support your operational demands. Our scalable service model grows with your trust company, offering everything from targeted project work to comprehensive outsourced compliance and audit programs. This flexibility allows you to:
  • Independent Perspective, Practical Solutions - Our independent viewpoint improves governance clarity and strengthens examiner confidence. At the same time, our recommendations are grounded in real‑world demands—ensuring you receive solutions that are both compliant and operationally practical.
  • Reduced Regulatory Risk - With regulatory expectations evolving rapidly, staying ahead of compliance issues is critical. Our proactive approach helps trust companies identify vulnerabilities early, address them efficiently, and demonstrate a strong culture of compliance and risk management.

Links to Important Compliance and Audit Information