This blog is based on part of an article I wrote forThe Audit Report, the official publication of the Association of Credit Union Internal Auditors.
This blog is based on part of an article I wrote forThe Audit Report, the official publication of the Association of Credit Union Internal Auditors.
At Redboard, we help credit unions organize, streamline, and even automate their audit processes. Over the years, we’ve developed a framework in which to conduct audits. It’s simple, repeatable, scalable, and most importantly, it works.
Centralizing identity access management (IAM) is somewhat of an enigma for many credit unions. No one can deny its importance in today’s environment, but it feels like such a mammoth undertaking. If you’ve thought about centralizing IAM...
With the COVID-19 pandemic continually introducing new operational practices and security risks, I wanted to sit down with some credit union professionals to discuss what’s been on their minds lately.
The COVID-19 crisis has changed regular exam, external, and internal audit operations. And, as with any period of upheaval and change, communication is key. In fact, this communication will be key to ensuring that your supervisory committee...
A recent report from the Institute of Internal Auditors found that directors of corporate boards are overconfident in their organization’s ability to handle major risks. This...
Audits and examinations are not for the faint of heart. They require detailed, meticulous work, and they often drag on interminably. Most people who don’t work in compliance do their best to avoid them if they can. And yet, for credit unions, audits...
So, you know how whenever you try to play pool, you have to discuss procedures for who breaks, or ball placement after a scratch, and so on? Or playing Monopoly, some people make the game a bit more punishing or forgiving to enhance play? Or how some...
To date, we still haven’t found a way to avoid audits altogether. Not that we’d want to, of course. They’re not exactly fun, but they certainly help keep things in line. Still, it would be great if they could get easier somehow…
Fortunately,...
The internet is full of various audit and regulatory examination tips. Heck, we’ve written more than a few blogs about them ourselves. The thing is, so many of the exam tips floating around out there are truly commonsense items. Once you’ve been...
Credit unions must perform several audits every year. Unfortunately, audits can be a major drain on your resources. So, how much does a credit union audit cost?
There’s a simple answer and a complex answer. Just for the sake of time, let’s...
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