What Kind of Audit is required for your credit union per NCUA Regulations? Read here.

Supervisory Committee Audit:

We perform supervisory committee audits which far exceed the requirements of section 701.12 of the Rules and Regulations.  Our audit procedures include an operational review of the internal controls and are designed to assess risk and minimize the risk of fraud by offering best practice recommendations.  Upon completion of the audit fieldwork, we will meet with the Supervisory Committee and management to discuss the comments and recommendations developed. This will include an overview of financial condition and trends, financial and accounting issues, loan issues, internal control issues, and best practice recommendations. The final written report on operations will be prepared and issued within 30-45 days after the audit date. Additionally, we are available for free telephone support throughout the engagement period.

Opinion Audits:

Opinion audits are performed jointly with an affiliated CPA firm. The value of this co-sourcing arrangement provides the credit union with the experience of CU Pacific auditors, together with the perspective and expertise of an affiliated CPA firm of diversified backgrounds. CU Pacific will provide a Report of Operations offering credit union best practice recommendations, while the affiliated CPA firm will provide the independent opinion, financial statements and disclosures. Whether your credit union is required to get an opinion audit or has otherwise selected this option, we believe this arrangement will provide you with the assurance an opinion audit may offer at the most reasonable price.