Internal Audit

Credit Unions are required to have an internal audit function that provides independent internal oversight and evaluates and highlights areas of their operations that require improvement.

Conducting an effective internal audit requires a level of expertise that is not always available internally within your Credit Union. Consequently, many credit unions outsource this function.

At RBK, our specialist knowledge of the Credit Union sector means that we are well positioned to assist assist you. Our internal audit team services include:

  • assessing your needs
  • developing an internal audit plan
  • running your full internal audit function
  • generating your internal audit policy and charter
  • clear reporting
  • focus on current areas of concern highlighted by Central Bank
  • advising on best practice

We can also conduct an effectiveness review of your existing internal audit function to allow you to assess and improve the assurance it provides. These reviews can deliver real value by:

  • benchmarking your internal audit function against current best practice
  • assessing value for money
  • delivering pragmatic advice for improvement
  • providing assurance for your Board and Audit Committees that your internal audit function is well resourced, focused and managed effectively

For more information or to discuss your Credit Union’s specific needs, please contact a member of our team.