internal audit

This is a vital part of risk management because, basically, internal auditing protects the credit union’s assets.  Management needs timely assurance regarding the quality of your credit union’s ongoing operations and the effectiveness of internal control systems. The board of directors rely upon this independent appraisal to fulfill its oversight responsibilities. We believe an effective internal audit process should include:

• Frequent communication with the board of directors and management
• Written reports containing timely and useful information
• A risk-based plan and schedule
• Proficient and highly trained staff
• Efficient auditing methods that include the use of automated tools
• Internal auditing positioned as a service for management throughout the organization

An internal audit adds value to your credit union through enhanced predictability of outcomes and the management of significant loss exposures.  Our services include:

• Assessment of your internal audit program and risk management activities
• Audit charter policy review and development
• Audit/Supervisory committee assistance
• Risk analysis and multi-year internal audit plan development
• Internal audit projects and control studies
• Outsourced (or co-sourced) internal audit services, including specialized ACH and trust/financial service audits