Internal audits combine CU strengths with industry experts

Credit Union Resources’ approach to Internal Audit Services combines the strengths of your credit union with our internal audit capabilities, and because we solely focus on credit unions, we provide industry knowledge and expertise paired with the right balance of services to fit your organization. As your trusted partner, our internal audit professionals can assess, support, remediate, and enhance your internal program.

Our Internal Audit Services provide an in-depth review of your credit union’s operations. Services are customized based on your specific needs, asset size, and the frequency of visits you need. We aid the supervisory committee/audit committee and the board of directors in performing their duties as volunteers.

Internal Audit Services
Internal audit services may include:

• Making surprise visits to branch offices, including cash counts and reviews of teller procedures;
• Conducting a Bank Secrecy Act (BSA), Customer Identification Program (CIP), and Office of Foreign Assets Control (OFAC) compliance review; 
• Examining activity in accounts of employees, officials, and family members;
• Inspecting general ledger account reconciliations and controls over clearing outstanding items;
• Following up on recommendations included in the most recent regulatory examination report, financial audit, and internal audit reports;
• Completing a cursory check of the credit union’s website;
• Performing a FACT Act review (cursory review of Red Flag Risk Assessment);
• Conducting a Regulation B review in relation to denied loans and completion of Adverse Action Notices;
• Performing a cursory review of Remote Deposit Capture;
• Reviewing due diligence documentation for high risk vendors;
• Examining the Disaster Recovery/Business Continuity Plan; and
• Many more

Service: One-Day Small Credit Union Internal Audits
This service allows even the smallest of credit unions to have a limited scope but quality, Internal Audit performed by an auditor at a fraction of the cost. Typically handled remotely, these audits can save money by eliminating travel costs. The reports are provided to the board or supervisory committees and satisfy most tasks they are responsible to review.

For more information, contact Ben Quattrochi at bquattrochi@curesources.coop or 210-730-1455.

About Credit Union Resources, Inc.
Credit Union Resources is a service corporation that provides industry-leading solutions and expertise to credit unions across the country. Credit Union Resources is a wholly owned subsidiary of the Cornerstone Credit Union League, a regional trade association representing the interests of credit unions in Arkansas, Oklahoma, and Texas.