Managing Up

The Role of Structure in Audit Findings Accountability

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.

How to Start Centralizing ID Access Management

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...

Auditing System Access in Your Credit Union

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.

What to Tell Your Supervisory Committee During COVID-19

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...

Is Your Board of Directors Overconfident about Audits?

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...

The Board’s Role in Audits and Compliance

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...

Do Different Examiners and Auditors Have Different Expectations?

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...

Do You Irritate Your Auditors? How to Handle Repeat Findings

Let’s take a minute to talk about repeat findings in audits. With any luck, we’ll be able to provide some insight—and possibly some reassurance. But by the end of this blog, you should have a better idea on how to handle repeat audit findings...

One Slick Way to Streamline Your Regulatory Exam Process

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,...

Two Uncommon Regulatory Exam Tips for an Extra Smooth Audit

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...

How Much Does a Credit Union Audit Cost?

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...