The role of Internal Audit at Credit Unions has become more challenging as the industry grows, new products are offered, and regulatory requirements become more and more burdensome. The Audit Library is here to help!
Does your Credit Union ever struggle to find assurance providers who know your business? We are a boutique firm, and work exclusively with Credit Unions. Whether you need a full Quality Assurance Review, some help getting a new Internal Audit group off the ground, or a single Q&A session with an expert, we are here for you! As former Credit Union Internal Auditors, we have first hand experience. We know what you need because we have been where you are!
Has your Credit Union engaged a Quality Assurance Review in the past five years as required by the Institute of Internal Auditors? If not, we are here to help! Beyond the requirements, this project is the gold standard for the Internal Audit department and the Supervisory Committee, to determine conformity with the International Standards for Professional Practice of Internal Auditing. We will cover all professional requirements, bring our Credit Union perspective to the table, and help raise the profile of your Internal Audit function.
- Required every five years minimum by the Institute of Internal Auditors
- Emphasis on the International Professional Practices Framework attribute standards
- Increase department visibility and improve your reputation within the Credit Union
- Final opinion on the Internal Audit function, with a report deliverable for your CEO, Supervisory Committee, and Board of Directors
- Upon successful completion of the engagement, your department may use IIA approved verbiage in audit reports
Are you responsible for leading or forming an Internal Audit department? You may be overwhelmed, or unsure where to even begin! How many auditors do you need, what projects should you work on this year, and what to do about the Supervisory Committee?! Let The Audit Library get you on the right track. We can help you create an Internal Audit department from scratch, because we have done it before!
- Receive a detailed Audit Plan that is feasible for you and meets the needs of your Credit Union
- We will prepare and provide everything you need to track time, create department metrics, and report results
- Our team will create custom governing and strategic documents; policies, procedures, charters, a long-term strategic plan, a quality assurance and improvement program, and more!
- Once we leave, we’ll follow up with calls and other communications and answer your questions as they arise
Do you ever wonder if your Supervisory Committee is functioning well and following industry best practices? Engage The Audit Library to perform a Supervisory Committee review and receive valuable feedback and advice. We’ll review your Committee from all angles, while considering the needs and risks specific to your Credit Union.
- Recommended for Credit Unions with Supervisory Committee members performing the Internal Audit function
- Emphasis on the NCUA Supervisory Committee Guide requirements
- Increase your visibility and improve the reputation of the Supervisory Committee
- Final report deliverable to the Supervisory Committee and Board of Directors
Do you ever wish there were more hours in the day? As a Credit Union Internal Auditor, you have a lot of responsibilities, and limited resources on hand to manage them. The Audit Library can help! Whether you need to outsource some of your larger tasks, or just have a trusted advisor one phone call away, we are here for you! We can work at your office or remotely. Here are some examples of the support and assistance we can provide:
- Creating customized governing documents for your Credit Union
- Performing the annual risk surveys, assessment, and creating your risk-based audit plan
- Calling in to Supervisory Committee meetings, taking minutes, and providing insight as needed
- Preparing audit programs specific for your audit plan needs
- Assisting with job descriptions, hiring decisions, and audit staff evaluations
Does your Supervisory Committee perform Internal Audit functions? Is it a challenge to complete the many required tasks, while meeting regulatory standards? This is where The Audit Library comes in! If your Credit Union is not large enough to support an Internal Audit department, but you still need assistance with your duties and responsibilities, we can help! Here are a few examples of what we can provide:
- Prepare an annual work plan and schedule, meeting the NCUA Supervisory Committee Guide requirements
- Prepare meeting agendas for the year covering governance concerns, deadlines, and basic business considerations
- Call in to meetings, take minutes, and be available for questions and issues as they arise
- Prepare customized charters, policies, procedures, audit work programs, and more!
“I recently used The Audit Library in consulting to develop my audit manual and team structure with job descriptions. The job descriptions they helped me re-write all received higher salary grades… Everything I have gotten from them has been great.”