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 are so singularly focused. Many credit union audit teams are comprised of professionals in other business areas. Credit unions call upon them to assist, support, and take part in audit duties as needed.


In this blog, we’ll briefly look at how other business areas are affected by audits. Then, we’ll look at a few of their responsibilities. Finally, we’ll see how those responsibilities fit into the overarching goal of the audit.

Who Are the Other Business Areas?

The other business areas affected by audits are many. They may include any business area into which the scope of the audit extends.

Usually, the members from other business areas who participate in audits are not full members of the audit team. Instead, they’re subject matter experts whom the audit team relies on for their knowledge and experience.

These business areas include members in lending, operations, and branch management.

What Are the Responsibilities of These Audit Team Members?

Because the employees from these business areas aren’t auditors, they must juggle their primary duties with those of the audit. They don’t have the luxury of focusing all their energy toward the successful execution of the credit union’s audit strategy.

Members from other business areas must understand what their roles are. They must also be informed of what their responsibilities entail.

Here are a few of the most critical responsibilities for other credit union business areas:

  • Fully understand their role and the scope of their work or engagement
  • Notify the audit team or leaders of any conflicts of interest
  • Draw on their specialized industry knowledge and expertise to answer questions or address findings
  • Communicate promptly with the team about any issues during all stages of the audit process
  • Update the team with any critical developments
  • Document their work, including any changes or amendments made
  • Be respectful and professional with their colleagues and auditors

Just as importantly, team members in other business areas must manage their time efficiently. Audits are time-sensitive endeavors, and keeping a strict schedule is critical to the audit team’s success. Not only will their schedule assist the audit team in timely delivery, but it will allow the other business areas adequate time to finish their own daily work.

How Other Businesses Areas Help Achieve Audit Goals

The ultimate goal of audits is to provide accurate, timely answers to an auditor’s questions. The audit team leads the charge on this front.

Other business areas—and the individuals from them who contribute—are a crucial part of the audit process. They ensure that their contributions to the overall audit goals are:

  • Answered and addressed accurately
  • Completed and delivered on time
  • Finished as quickly as possible

The reason why other business areas must be so prompt is that their duties are twofold—they can’t bottleneck the audit process, and they must also perform their other daily duties.

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More Audit Resources for Credit Unions

We hope this information about audit team member responsibilities in other business areas was helpful. We try to provide as many resources as we can for the good people who keep credit unions running smoothly and responsibly.

Recently, we wrote about how we helped one credit union cut 25% off the time it usually takes for them to complete an audit. We also put together a credit union audit checklist to streamline the audit process.

Or, follow the links below to explore some of our tips for tackling credit union exams.



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