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 or visit the affiliate area of the site through this link