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Internal Controls Audits and Reviews

Sometimes due to limited staff sizes, segregation of duties are not always possible in some areas of the operation. As a result, many internal control procedures cannot be implemented. In this era of challenging economic times, credit unions need to review their internal controls on a regular basis.  If the opportunity presents itself, your employees may not have the courage to resist the temptation of theft and embezzlement. It is important to take the necessary precautions to insure that you are providing adequate overall protection to safeguard your members assets and identity.  Identifying the risk in your credit union is the first step in developing your annual audit plan.

Our risk assessment includes a detailed review of key areas of your operation in order to obtain an understanding of your credit union. We document existing internal controls in place, and evaluate and identify any missing controls. We meet with management and the Supervisory Committee, then tailor an annual audit plan to your credit union. We go over results with management, provide best practice recommendations, and deliver the report directly to the Supervisory Committee.

The areas of internal control to be reviewed include, but are not limited to, the following:

  • Teller operations
  • Investment purchases and sales
  • Delinquent loans
  • Physical security devices and procedures
  • Foreclosures and repossessions
  • Surety bond and insurance coverage
  • Employee and official account
  • Share draft controls
  • EDP operations
  • Allowance for Loan and Lease Loss
  • Credit card creation Wire transfer terminal security

 

Ask about our Internal Audit / Compliance Package for the best value and savings while making sure your credit needs are protected.

Services & Solutions

  • Compliance Reviews +

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  • Alliance Partners +

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  • Solutions Overview +

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  • Fraud Prevention & Detection +

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Contact info

CU Pacific Audit Solutions, LLC
1654 S King Street
Honolulu, HI 96826
Phone: (808) 942-7565
Toll Free: (888) 432-8772
Fax: (877) 828-8477

Request Proposal

To Request A Proposal, Send Request to This email address is being protected from spambots. You need JavaScript enabled to view it.

Please send the following information with your request; credit union name, type of audit requested, date of last audit.