Credit Union Auditors

credit union CPA services

Every credit union needs an audit or agreed-upon procedures to satisfy regulatory requirements. Done correctly, an engagement such as this should deliver much more value than simply checking off a requirement box. 

Positioned as the No. 1 credit union auditing firm in the nation  by Callahan & Associates, Doeren Mayhew’s Financial Institutions Group trailblazes beyond just testing controls and confirming numbers. Look to our credit union auditors to help you balance risks, enhance financial reporting and optimize operational controls in your next audit.

Our Approach as a Top Credit Union Audit Firm

Working with over 500 credit unions, from the simplest to the most complex, our highly specialized team of dedicated credit union auditors help credit unions overcome risks and best position them for the future by exercising audit best practices during our engagements. We will bring to your credit union audit engagement a cross-function team of credit union auditors, lending specialists and information technology auditors to provide insight on how these facets of your organization are affecting its risk profile and overall financial health.

Using a risk-based approach methodology, our credit union audit services encompass analysis, fraud detection, capacity for growth and improved testing. This results in assurance that helps reduce costs by maximizing efficiencies, minimizing disruptions and mitigating risks, all while enhancing accountability.

Each of our credit union auditing services are completed in accordance with NCUA’s Rules and Regulations of federally insured and state-charted credit unions, all applicable state requirements and generally accepted auditing standards (GAAS). Additionally, testing of information technology controls will comply with AICPA professional standards, the Federal Financial Institutions Examination Council (FFIEC) and Information System Examination Guidelines.

Taking it one step further, Doeren Mayhew uses a multi-step quality control process, to ensure reports and disclosures comply with professional standards to deliver integrity, objectivity and independence on each engagement. Under our policy, all workpapers and reports undergo a principal-level review by an auditor not associated with the specific engagement.

Credit Union Audit Services

Credit Union Internal Audit Expertise

With ever-increasing transactional and regulatory complexities putting a strain on internal audit resources, Doeren Mayhew’s credit union auditors can help your institution reduce risk, ensure compliance and deter fraudulent activities. Whether you already have an in-house audit system and need more technical resources or are interested in outsourcing a cross-technical team, we have a suite of credit union internal audit services customizable to your unique organization. Doeren Mayhew’s internal auditors not only detect risks, but also deliver unmatched strategic value to credit unions.

FAQ

How often do credit unions get audited? 

Following rules set by the Supervisory Committee, federally insured credit unions must conduct an annual supervisory committee audit each calendar year. The audit must cover the period since the previous audit was performed.

What does internal audit for credit unions include? 

Internal auditing addresses strategic and emerging business risks within the credit union. Some common internal audit services include:

  • Internal audit risk assessments
  • Internal controls documentation and testing
  • Regulatory compliance audits
  • Quality assurance reviews (QAR)
  • IT audits
  • Enterprise risk management counseling

Get much more out of your next audit than just checking a box. Contact Doeren Mayhew’s credit union auditors today and we’ll show you the way.