Audit Services
What can we do for you?

Our audit team draws on more than thirty years of experience to provide a wide range of services to credit unions under $500 million in assets, plus internal audit services to those over $500 million in assets. Those we serve value skillful and excellent service at very low cost.

We understand that the regulatory environment is increasingly complex and we understand credit unions’ complex needs. Our team is present, prepared, and poised to respond to those compliance needs.

Our approach is to seek innovative methods so we can perform best on your behalf. Amid today’s complex, dynamic environment, a team committed to your success is all the difference.

 

TimeValue Software

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Summary of Services

Our audit team specializes in more than twenty types of services including the following. All procedures shall be consistent with Generally Accepted Accounting Principles (GAAP) as prescribed by the National Credit Union Administration, North Carolina Credit Union Division, and South Carolina Board of Financial Institutions. The scope of agreed-upon procedures satisfies all requirements of a Comprehensive Supervisory Committee.  

Comprehensive Annual Audits

  •  Credit union balance sheet (assets and liabilities)
  • Loans Investments
  • Fixed assets
  • Notes payable
  • Reserves
  • Expenses
  • Cash and bank reconciliations
  • Vizo Financial and other investments
  • Member’s trial balance
  • Land, building, furniture and equipment

Bank Secrecy Act Audits

  •  ACH audits
  •  Account verifications 
  •  990 tax forms (state-chartered credit unions only)

Internal Audits

  •  Cash counts
  • Cash policy and procedure review
  • BSA policy and procedure review
  • High-risk areas
  • General ledger reconciliations
  • Review loans (new, delinquency, charge-offs or staff/volunteer)
  • Any procedure for which the supervisory committee is responsible
  • Credit union elections

A report of procedural work performed and findings is submitted to the supervisory committee after an audit has been completed.

Contact Us

NORTH CAROLINA

323 W. Jones Street
Suite 200
Raleigh, NC 27603

800-822-8859 Phone
800-525-7087 Fax

SOUTH CAROLINA

7440 Broad River Road
Irmo, SC 29063

PO Box 1787
Columbia, SC 29202

800-822-8859 Phone
803-732-4268 Fax