Bank Collateral and Field Examination Services

Mercadien, P.C., CPAs provides field examination services for banks and other financial institutions specifically to service the asset based lending, corporate finance, and commercial banking sector. We can conduct field examinations of your existing and prospective customers and provide a detailed report of findings and recommendations.

For banks that do not have a dedicated in-house team, Mercadien, P.C. can provide the security of a professional field examination using agreed upon tests and procedures.

For banks that do have a dedicated in-house team, Mercadien, P.C. can provide a secondary source when scheduling conflicts arise. For local clients, we can often provide more cost effective service by eliminating travel time and costs associated with regional audit staffs.

We can follow your established field examination program or establish agreed upon tests and procedures.

Field Examination Tests and Procedures

Financial Statements

Trace trial balances to the financial statements
Review unusual account balances and activity
Review account reconciliations
Review yearend adjustments and CPA Internal Control and Management Advisory letters

Accounts Receivable

Review accounts receivable reconciliation to the general ledger
Accounts receivable shipping test
Accounts receivable confirmations
Cash receipts test
Accounts receivable concentration test
Review of credit policies and procedures
Review of past due balances/bad debt history
Credit memo review
Recommend accounts receivable advance rates and ineligibles
Dilution calculation

Inventory

Reconcile inventory ledgers to financials
Inventory cost test
Inventory gross profit test
Inventory count test
Inventory sales by line or department
Slow moving inventory analysis
Inventory concentration
Recommend inventory advance rates and ineligibles

Accounts Payable

Reconcile accounts payable to financials
Reviews check register for unusual payments
Accounts payable concentrations
Review accounts payable aging

Other Procedures

Review checking account reconciliations
Review borrowing base reports issued to bank
Review insurance policies
Review payroll tax status
Review sales backlog reports
Review of facilities and operations
Other test and procedures as requested
Insurance review
Review real estate tax status

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Banking Clips

About.com (May 2010) "Successful Small Business Strategies During the Recession"

Mercer Business (Apr. 2010) "The Science of Regulatory Compliance"

Video WZBN (Mar. 23, 2010) "Debit Cards"

ACAMS (Mar. 2010) "Member Spotlight"

Video WZBN (Feb. 9, 2010) "Mortgage Forms"

Sal Zerilli Principal Announcement (Dec. 2009) "The Mercadien Group Welcomes Sal Zerilli"

Other Mercadien Clips

Nonprofit Update – NJDCA will NOT require donor designation regulation (Aug 18, 2011)

MercerSpace (July 11, 2011)
"RWJ Hamilton names three business leaders to Board of Directors"

NJBIZ (July 1, 2011)
"Mercadien Evaluates 2011 Growth Outlook"

Trenton Times (June 15, 2011)
"Risk Seminar Stresses Teamwork in Business"

New Jersey Newsroom (Apr. 6, 2011) "State Returns $1.54M to Investors Defrauded by Robert Brennan"

Press Releases

Mercadien's Ritter Named to Robert Wood Johnson University Hospital Hamilton Foundation Board of Directors (Jan. 3, 2012)

The Mercadien Group Donates Toys for Children in Need to Toys For Tots Foundation (Dec. 20, 2011)

Mercadien's Rosen Elected to National Association of Certified Valuators and Analysts (Dec. 19, 2011)

Mount Receives Clara Barton Leadership Award (Dec. 12, 2011)

Mercadien Announces Kyle Neeld, CPA Named to Director (Oct. 24, 2011)

Karen West, Chief Operating Officer, Joins The Mercadien Group (Oct. 17, 2011)

Mercadien Announces Lisa M. Thouin, CPA Named to Principal (Oct. 3, 2011)

Mercadien Asset Management News & Events

Archived News & Events