Audit Best Practices

Audit Team Member Responsibilities in Other Credit Union Business Areas

Credit union audit teams are built of experienced, dedicated professionals. They have expert knowledge in their field, and they’re well-equipped to answer any number of pertinent questions related thereto. But not all audit teams...

How Automation in Auditing Improves Accountability

Many factors impact your audit process and, consequently, your audit results. Still, the responsibility of ensuring great deliverables lies with your audit team. There are two characteristics shared among sound, experienced audit...

Worried About Credit Union Exams? Try These Two Resources!

There’s a lot to worry about when preparing for credit union exams. Usually, they go smoothly. Often, exams just confirm what you and your credit union already knew: that you’re on the right path. But the stress is real.

Why Consistency Is Key for Your Credit Union Auditors

Depending on who your auditors are—or what type of audit they’re conducting—your auditors could be looking for any number of things. One thing they’re always looking for? Consistency.

What Is an Effective Credit Union Audit Process?

One of the things we talk about a lot in this blog, whether explicitly or not, is the credit union audit process. In fact, improving the audit process is what we’re all about. But what does it mean to have an effective audit...

How to Improve an Already-Sound Credit Union Audit Program

Audits must be performed frequently to ensure proper operational practices and compliance. Most upper-level credit union employees are familiar with audits. After all, upper-level employees are the experts, and leveraging experts is a critical...

Two Simple Areas Where Audit Software Helps Your Credit Union

Audit software for credit unions can help your team drastically simplify your audit process. In fact, the increase in efficiency from using audit management tools usually translates to a 10–25% decrease in time to completion.So, how does...

How Credit Union Audit Management Software Saves Time and Increases Efficiency

In the last few weeks, we’ve written a bit about some of the benefits of credit union audit management software. One of the primary takeaways is that credit union audit software saves time...

Where to Reinvest Time Saved from Using Credit Union Audit Software

Recently, we wrote about how credit unions can save time in completing their audits by using audit software to manage their process. It’s true—credit union...

Time-Saving Strategies for Credit Union Audits

Credit union audits are time-consuming. From the first letter, to mobilizing your team, to addressing items, to coordinating and delivering documents, quite a few work-hours go toward successful completion of NCUA audits. So, what...

NCUA Audit Checklist for Credit Unions

Okay, we get it. Audits aren’t easy, and there’s no secret hack to make them less difficult. However, a little preparation never hurt. In fact, even an ounce of preparation could end up worth about a pound of cure. (We’re not sure...

Do Credit Unions Need External Audit Tools?

Many credit unions get by just fine without any specialized audit software. Many get along okay, but there’s a little more panic and close calls involved. When are external audit tools and compliance software necessary?

What Have Credit Unions Said About Efficacy?

At this point, we’ve worked with a lot of credit unions. As such, we’ve received a lot of feedback about what it’s like to use Redboard. A couple major points about Redboard’s reported efficacy have stuck out to us.

Using the NCUA Examiner's Guide as a Resource to Help Your Credit Union

Halloween just came and went. This year, several dozen pop-culture references, cartoon characters, and rotting undead paid visit to my door. They said, “trick or treat,” and in return, I gave them candy. Examiners aren’t quite as charming when they...

Using the NCUA Examiner's Guide for an Internal Control Audit

NCUA rules and regulations require a demonstrable level of risk management from credit unions. If you’re looking to prepare for your next examination, your best bet is to look at the NCUA examiner’s guide. In it you will find the resources that your...

Tracking Data Through your Internal Audit Process

It doesn’t matter if you’re the biggest credit union in the world, or if you’re small but mighty: you’ll have to do an internal audit. During your internal audit process, one of your biggest keys to success is tracking your data.

How to Mitigate Credit Union Risks During Your Internal Audit

Assessment of risk and finding ways to mitigate it are critical components to a successful internal audit. Here are a few strategies for your credit union to consider the next time examiners come a-knocking.

Are You Ready for Your Internal Audit?

Oh no! You’ve just received notice of an upcoming internal audit. Are you ready for it?

Getting your Credit Union Organized for an Audit or Exam

Preparing your credit union for an audit or exam, whether internal or external, is a time-consuming process. If your credit union is preparing for an audit, what will you need in order to ensure a smooth process?

Managing Credit Union Risk Management

One of the benefits of using Redboard is mitigated risk during internal and external audits. We’ll explore some of the ways that Redboard reduces risk for your credit union, and then we’ll discuss whether that risk reduction is right for you.