2024 Call Report Series

Preparing financial statements for the Call Report is just like preparing your own internal financial statements, right? Think again! There are subtle differences that may go unnoticed. This session will provide tips, tricks, and relevant examples to assist in preparing the quarterly Call Reports. It will address how to prepare the statement of financial condition, statement of income and expense, and Schedules B, C, and D.

Call Reports contain a significant amount of information, but how is that information evaluated by examiners and auditors? The Call Report tells a story about the operations and complexity of the credit union and impacts the extent of the procedures performed. There are countless disclosures that also appear in a credit union’s financial statements and are validated as part of the audit process. This session will provide insights so that you are prepared for your next audit and examination.

Whether you are a veteran or new to the Call Report process, staying abreast of changes – including changes in the examiners’ gaze – can be challenging. This beneficial program will provide the scoop on new information you should know and reveal the top 10 errors so you can increase accuracy and avoid mistakes.

With Call Reports, accuracy is paramount, but so is timeliness. NCUA reinstated civil money penalties for failing to submit NCUA Form 5300 Call Report on time, effective January 1, 2024 – up to $1 million per day! This practical program will give new preparers and reviewers essential, expert insights into the world of call reporting.