Understanding Your Credit Union’s Audit Report

Credit unions operate in a highly technical environment, and the complexity of their financial reporting cannot be overstated.  Audit reports provide management, boards, and supervisory committees with key decision-making information.  Auditing is the process of examining an organization’s financial records to determine if they are accurate and in accordance with all applicable rules, regulations, and laws.  While the primary information originates from the management team, audits conducted by outside providers are essential for confirmation that things are as they should be. 

But what use is a great audit if you don’t know how to interpret its results and implement its recommendations?  Join credit union attorney and supervisory committee member, David Reed, as he breaks down the audit process and provides technical requirements and practical guidance on interpreting audit results.