Field Exams

Statesman has completed thousands of field examinations across a wide breadth of industries throughout North America. We understand that deliberate and timely monitoring of our clients’ asset-based loan portfolios is key for long term success. Our experienced personnel provide customized due diligence and field examination services for banks, asset-based lenders, and factoring companies supported by a commitment to superior client service. We specialize in examinations of collateral assets, examinations for factoring and floor plan facilities, books and records integrity checks, and quality of earnings reports. Statesman’s reports are generated using proprietary analyses and/or the client’s preferred reporting format. Typical evaluation techniques applied to accounts receivable and inventory assets include:

  • Borrowing base confirmation
  • Analysis of trends in aged accounts

  • Determination of concentrations in account balances

  • Review of past due amounts

  • Turnover analysis

  • Invoice testing

  • Inventory test counts and cost tests

  • Proof of cash

  • Verification of receipts and disbursements

  • Cash disbursements testing
  • Verification of payroll tax payments and insurance

  • Reconciliation of balance sheet presentations to underlying ledgers

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