We have the framework and the winning team to get you across the finish line.
As your credit union faces increased compliance and regulatory complexities, the need to combine the strength of your organization with GBQ’s dedicated team of industry experts is necessary. Our internal audit/agreed-upon procedures methodology and framework help to ensure consistency in approach, execution and quality—and most importantly—a competitive advantage with the satisfaction of our services. Designed with ongoing improvement and customized to satisfy your goals, the framework is comprised of five phases, summarized as follows:
1. Understand the business
Our team is committed to learning what makes your organization unique, from organization and culture to dynamics and processes. Understanding your market, customer base and operations allows us to facilitate a smooth integration of the testing plan with minimal disruption to your operations.
2. Internal controls framework
To continue providing assurance throughout your organization, and most importantly, your members, our team will utilize a hands-on approach to evaluate or develop an internal controls framework, policies, standards and methodology.
3. Assess risk and develop a strategic plan
Throughout this phase, risk assessment and strategic audit planning methodology is followed to perform the annual risk assessment and develop a strategic audit plan.
4. Audit execution
Based on the risk assessment and approved strategic audit plan and resourcing needs, appropriate resources will be identified and deployed. The GBQ team will use a standard but flexible audit approach and process, ensuring consistent execution regardless of location or function.
5. IA Governance and reporting
While communication is the key for effective reporting and follow-up procedures and to ensure timely resolution of audit-related matters, it doesn’t end with audit results. Following the completion of fieldwork and the delivery of final reports, our team will establish a quarterly process to report on the status of open items and monitor the implementation of our findings to further support your strategic objectives.