The Audit Library: From the Past, to the Present, and Beyond

I’d like to take a brief break from our typical professional advice blog, and share a bit more about the inspiration behind The Audit Library. Where we came from, where we are today, and how we would like to help our subscribers in the future. So, let’s start off with the story of how The Audit Library began. 

It Started With An Idea

In 2014, The Audit Library’s Co-Founder Olivia Whipple was promoted to the Chief Audit Executive role unexpectedly. Overnight, she became responsible for the Internal Audit department at a Credit Union with over $1.3 billion in assets. 

With a growing number of responsibilities, Olivia was overwhelmed with a department overhaul, corporate obligations, and regulatory requirements. All while meeting auditing standards, of course. There simply weren’t enough hours in the day! She looked to the market to outsource documents, such as the audit programs, charters, policies, and workpapers she and her team were creating from scratch. 

After extensive research, she wasn’t able to find a solution that was affordable, user-friendly, properly updated, or Credit Union focused.  So, she decided to create a solution herself. She left her comfortable corporate job in late 2017 and struck out on her own.

The Beginning

After working on the project a bit, she realized she could create better content and serve her clients best with a business partner. So, she called me (John Kaneklides), a former colleague, and explained her idea. A website where auditors can download a workable version of every document they need, all for a reasonable price. I was excited to get on board, and The Audit Library was born!

When we began The Audit Library, we were not sure what the reception would be like from our colleagues. We knew, if we were working at a Credit Union we would love The Audit Library. Its time-saving audit programs and workpaper templates are phenomenal. Additionally, The Audit Library keeps up-to-date with constantly changing laws and regulations, so you don’t have to. But, what would other auditors think?

The first big push to grow our subscriber list was at the ACUIA National Conference in Denver, CO last summer.  We were elated with the number of auditors that said, “The Audit Library is exactly what we need!”. During that week, we were excited to beat our sales goals. However, we are even happier now that The Audit Library documents are used by Internal Auditors from around the country. 

The Present

As we have continued to grow, our core values remain the same and our goal to help other auditors perform their jobs more efficiently and effectively at a reasonable price persists. Consequently, we decided to expand our subscription offerings so we can help more auditors. The Audit Library is now pleased to have three subscription plan options, so you may choose the ideal plan for your Credit Union. Read on to find out more about each plan.

Basic – $399 yearly

This plan is the same one we have offered from day one. You get full access to the Library templates and documents, including audit programs, workpapers, and Internal Audit and Supervisory Committee policies, procedures, charters, and much more. You may contact us to request a new Library document if you can’t find what you need. This account is limited to one user.

Team – $999 yearly

With a team subscription, you get everything you see in the Basic plan. However, instead of being limited to one user, an unlimited number of users within your organization can access the Library! This plan is ideal for Internal Audit departments with multiple auditors and/or Supervisory Committee members who would benefit from Library access. 

Pro – $1,599 yearly

The Pro-level subscription is our most exciting! In addition to all of the benefits of a Team plan, you also get 5 hours of consulting and advice. Have you ever gotten stuck on an audit, been thrown a curveball by your Supervisory Committee, or struggled when a difficult question arises? Then you know how valuable it is to have an expert available to help! We can troubleshoot a document with you, weigh the pros and cons of a hiring decision, or even walk you through an audit plan. Whatever you need, we are a phone call away. 

We have the benefit of working with multiple Credit Unions on a daily basis, learning about tips, best practices, and current trends. We want to share that knowledge with you in an affordable way. A limited number of Pro plans are available for purchase, so subscribe today!

In addition to our subscription plans, we continue to offer our core consulting engagements such as Quality Assurance Reviews, custom document preparation, and Supervisory Committee planning and assistance. 

The Future

As we grow, we want to continue to develop valuable relationships with our subscribers and make The Audit Library the service you rely on to make your job easier. As always, we encourage our subscribers to contact us with suggested content you think should be added to the Library. Your input is integral to helping the Library grow and allowing us to cultivate a community that best services Credit Union Internal Auditors

Click here to subscribe to one of our plans. 

If you have any questions about our new subscription levels, pricing, or anything else, leave a comment below. You may also contact us here. We are always happy to answer any questions you may have!

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