Duffy and Company has provided comprehensive external audit services to Credit Unions since the late 1960s after the enactment of the first Credit Union Act in 1966
The Credit Union & Co-operation with Overseas Regulators Act 2012 makes provision requiring credit unions to develop an internal audit function to provide for the independent oversight of the governance of credit unions. These roles and responsibilities may be set out by regulations made by the Central Bank.
Duffy & Company’s internal audit service for credit unions has a goal of working with our clients to ensure their internal audit function is adequate, effective and appropriate to the risks the credit union has identified and faces. The internal audit function is a key component in an credit unions compliance process. We work with credit unions, taking a systematic approach to ensure their controls are working and adapting as the business model changes, and provide insightful evaluations and recommendations.
We have completed independent loan book reviews for Credit Unions.
Duffy & Company have had involvement in Mergers/Transfer of Engagements of credit unions on a number of occasions since the 1970s.