A leading third party marketing firm that helped banks promote financial products received an SEC audit notification. They relied on EAI Information Systems to handle compliance when their key compliance resource left. EAI was able to provide the requested transactional data to the SEC and show the marketing firm had taken proper compliance actions. With EAI's assistance, the marketing firm passed the audit. EAI then created 5 customized reports to address recommendations from the audit, helping the firm fill compliance gaps. Going paperless with EAI's systems allowed the marketing firm to overcome the loss of their compliance expert and successfully complete the audit.

1. 8700 SW Creekside Place, Suite A
Beaverton, Oregon 97008
TEL (503) 644-3057
FAX (503) 646-1711
www.eaiinfosys.com
Overcoming Challenges to
Survive an Audit
To learn more about how
EAI’s Compensation tools can
help your business, please email
Marketing@eaiinfosys.com
or call
(877) 537-1507
CHALLENGE
A leading Third Party Marketing Firm that helped banks promote investment and
insurance products to clients received an audit notification from the SEC. Being a large
firm serving the financial industry, audits were always a possibility; however, due to
personnel turnover, the key resource for compliance-related information was unavailable.
SOLUTION
Fortunately, The Marketing Firm used EAI Information Systems to handle compliance.
When the client requested assistance, the EAI team was able to fill the gaps left by the
recent turnover. EAI’s system tracks every customer, account, and transaction performed
throughout their network of banks. So when SEC requested transactional data for a
certain time period, the EAI team quickly produced it. When compliance flags were
raised, EAI was able to show that the client had taken the proper action at the time of
discovery. Throughout the audit process, EAI essentially acted as an extension of the
Marketing Firm’s team, verifying proper conduct.
RESULT
Through their close partnership with EAI, the client passed their audit. However, very
few audits end without at least a few recommendations. When those suggestions came
through, EAI assisted the Marketing Firm by creating 5 customized reports designed
specifically to fill the gaps the audit uncovered.
This client had had the foresight to go paperless with EAI Information Systems. This
allowed them to overcome a potentially dangerous lack of knowledge prior to an audit,
saving time, money, and hassle during a period when they needed an expert.
With enforcement actions increasing 10% and penalties growing from $3.4B
to $4.16B, compliance is a bottom line issue with implications for all financial firms.
Having a partner committed to ensuring that you have constant access to the information
you need to survive an audit is an investment in security and revenue.