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In an environment that grows more complex by the day, the internal audit role and its impact on your credit union’s integrity is more important than ever. That’s why Supervisory Committees and Boards of Directors rely on independent quality assurance reviews to assess internal audit’s performance, determine its value, identify opportunities for improvement and ensure critical functional areas are not overlooked.

Performing QAR audit services for credit unions of all sizes and complexities, Doeren Mayhew’s team of credit union auditors has the experience and industry knowledge to validate that your credit union has the right controls in place.

Benefits of Quality Assurance Reviews

  • Gain insight into the effectiveness your internal audit function
  • Identify specific areas of improvement and build a prioritized action plan to increase value
  • Enhance internal audit’s credibility within your organization
  • Provide proof of compliance with the Institute of Internal Auditors’ standards

What to Expect From Our Credit Union Quality Assurance Review Services

Assessing your internal audit function can be accomplished by having a top credit union auditing firm such as Doeren Mayhew either perform a quality assurance review or validate your internal audit function’s own self-assessment.

Using the internal audit code of ethics and standards set by the Institute of Internal Auditors, International Standards for the Professional Practice of Internal Auditing, our credit union auditors will:

  • Evaluate compliance with audit charters and IIA standards
  • Assess the efficiency and effectiveness of the department
  • Appraise internal audit’s organizational structure, staff and approach
  • Review the quality of independence, professional proficiency, scope of work, performance of audit work and department management
  • Shed light on management’s perception of the internal audit function
  • Analyze the credit union’s audit universe and method for developing the annual risk assessment and audit plan
  • Assess the function’s ability to address emerging risks
  • Identify gaps in performance and provide recommendations for improvement

Look to Doeren Mayhew’s credit union auditors to gain clarity on what’s happening in the internal audit realm in your credit union. Contact them today!

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