Software and Tools

What Your Credit Union Should Know About Automated Audit Working Papers

Credit unions deal with several audits per year. Some might even say “too many.” And each audit is a little like a math test in school: You must prepare for it You have only a limited time to complete...

What Are the Benefits of Automating Credit Union Audit Processes?

There’s a common fear among workers in many industries. They worry that automation is going to come in, take their jobs, and replace them. While there’s a basis for that fear in some industries, we’re nowhere close to that in the realm of credit...

How Should Audit Automation Software Work for Credit Unions?

We’ve said it before, but we’ll say it again: audits aren’t exactly fun. Sure, there are some interesting aspects to it, but by and large, they tend to be tedious affairs punctuated by the occasional stressful deadline. Various types...

Why Is Audit Software a Critical Credit Union Compliance Resource?

Credit unions deal with countless compliance demands. It’s just part and parcel of the credit union industry. Credit union compliance resources come in all shapes and sizes. Some people, including the nice folks at the NCUA, offer...

What Kind of Credit Union Audit Software Do You Actually Need?

Truth be told, there aren’t many kinds of audit software for credit unions on the market. The way we see it, there are three basic types: Effective, Enhanced, and Engaged. We wrote a whole blog about it.

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...

Redboard’s Credit Union Audit Software: Point West Credit Union Case Study

Point West Credit Union started off with a robust but time consuming audit program. After partnering with Redboard, they were able to complete their audits much more efficiently and effectively. The best part?

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...

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?

How Can Credit Unions Request New Product Features?

If you’re considering Redboard for your credit union, or if you’re already using it, you might wonder how you can request new product features. Today we’ll discuss how Redboard addresses your emergent or continuing concerns in the realm of auditing...

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.

Does your audit process meet NCUA regulations?

Here’s a hypothetical: your credit union has just been audited. You mobilized your team, they collected documents and provided answers to any pertinent questions, and you compiled and submitted all the information. How well do you sleep that night?