M&M Consulting LLC performs internal audits of trust activities on a regular basis for its clients as part of their risk-based audit plan. Our program consists of a review of both the bank's administration and operations for trust activities. Our audits of trust administration and operations include a review of the following:

Trust Administration

• Review by trust committee
• Governing instrument and consistency with trust accounting systems
• Conformance of investment holdings to the department's policy, governing instrument and client objectives
• Purchases and sales of investments
• Cash disbursements
• Receipt of fee income
• Receipt of dividend income
• Compliance with ERISA, if applicable

Trust Operations

• Trust information system
• Overdrafts and uninvested funds
• Recordkeeping and confirmation requirements
• Conflicts of Interest
• Disbursements
• Reconcilement and settlement
• Registration and report review
• Transfer agent activities
• Trust errors and omissions insurance
• Vendor oversight
• New accounts
• Closed accounts
• Real estate monitoring

To contact us:
Phone: 207-650-4665
Email: Audit@mmconsulting.info