Internal Audit Services


Internal Audit Services

Internal Auditing is an independent and objective assurance and consulting activity that is guided by a philosophy of adding value to improve the operations of the organisation. ILCU Internal Audit Services (IAS) assists the credit union in accomplishing its objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of the credit union’s risk management, control, and governance processes.

 

IAS offer:

  • A dedicated credit union wide internal audit function, working solely for and with the credit union movement.

  • An experienced team of internal auditors benefitting from a broad range of credit union experience.

  • Full outsourcing of the internal audit function or co-sourcing with an existing internal audit function. IAS also provide assistance with the implementation and operation of an in-house or shared audit function.

  • Fully integrated audit process, system, risk and control framework supporting the credit union’s operations and control environment.

 

Co-operation amongst Co-operatives

  • An ‘in-house’ credit union movement audit function. Not-for-profit, fit for purpose and operating an efficient credit union centric audit process in collaboration with the credit union.

  • The sharing of knowledge and experience of the credit union movement is fundamental to our work.

  • Working closely with the credit union’s risk and compliance functions.

  • A standard framework on processes, risks and controls is in place. This enables the credit union, Risk/Compliance functions and Internal Audit to work within the same terminology thereby optimising resources, creating transparency and sharing a common perspective. 

  • An audit management system is provided to the credit union. This system manages all audit engagements, and offers a single point of entry to manage the IA Plan, Risk Assessments, audit reports and action audit recommendations. The system is operated within a secure IT environment by IAS.

 


To find out more email internalaudit@creditunion.ie