Description

This program is designed for new and nearly-new credit union Supervisory Committee or Audit Committee members. Learn how your Committee compliments two other equally important groups, the regulatory examiners and the auditors. See how similar, but more significanly, how different the missions and activities of the three are. Uncover the four major tasks of your committee and how to maintain its independence (or get it back).

Explore the skills you need to make your committee effective. Discuss how your Committee fits in with the board, management. Clarify the power the Committee has, and the power it does not have; avoid the mistakes that have resulted in Committees becoming ineffective.   Learn what you need to know about Internal Auditing, and how to lead and manage the internal auditors.

Whether your Committee will do the work or hire it done, see how to build an audit program independently while meeting the unique needs of management. If Committee members will do audit work, we’ll cover some specific areas and how to do them to get started.

We’ll also cover the areas of risk with which the board and management concern themselves, and how you can help. Learn how to create a record of the Committee’s activities, and report its findings to the board and management.

Key Learning Points:

• Understand the importance of the Committee’s mission and roles in relation to the board and management.
• Methods for maintaining the Committee’s independence.
• Tips for creating value and earning respect as a key to the organization’s success.
• How to conduct simple but useful audit work in concert with hired professionals.

Program Length:  

About 3 hours

Primary Audience:

Supervisory/audit committee members, especially new ones. Also, members of the board and management; Internal auditors.