STATUTORY AUDIT

Expertise in completing Statutory Audits

Every Credit Union is obliged to have its annual financial statements audited by an External Independent Statutory Auditor.

WDA’s Credit Union team has the expertise and resources to complete your statutory audit in a timely and efficient manner in order. Our team is lead partners that have over 15 years experience in delivering quality services to the Credit Union Sector.

The primary objective of the external audit is to provide an independent opinion on your Credit Union’s financial statements. WDA have a tailored, risk based auditing approach that will provide you with an efficient audit that’s within your regulatory needs and timeframe for AGM and other reporting deadlines.

With the level of legislation and regulation both current and future, governing the Credit Union Sector, it is vital for the Board to have a strong professional firm such as WDA acting as their Auditors. The five yearly auditor rotation system will ensure the Credit Union obtains new independent advices and views to assist them is complying with their obligations.

  • Complete interim audits and prepare a detailed report for the boards consideration, and will be on hand to present same to the executive, full board or both. This has proven to facilitate more efficient year end audits.

  • At the conclusion of the year end audit a WDA Partner will meet with and present the findings of our audit to the Audit Committee or Board as required. This affords us with an opportunity to present and discuss any significant issues arising from the audit and also any areas of weakness identified during the course of the audit.

  • As communication with the Credit Unions members is vital at AGM, a WDA partner will be in attendance to present our audit report and highlight significant issues within the financial statements.

  • We welcome all questions from the floor / membership and pride ourselves in our ability to present complicated financial information to the members in easy to understand language, as most members would not have formal financial training to interpret the financial statements.

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