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  • Writer's pictureStephen Griffin

Credit Unions, Save Time & Money with Our Audit Prep Tips

Credit Unions, it’s time to begin prepping your year-end audit.

But first, slow down! At Griffin & Furman, LLC, we know that this season typically is a stressful time for Supervisory Committees and management—and it doesn’t have to be. Get going with these three steps:


Step One: Get Your Financial Advisors Involved Early

A Credit Union’s annual audit is methodical and time-consuming work. Keep your Certified Public Accounting team in the loop—they’re here to organize, manage the process, and relieve the burden from Credit Union management and staff.

And remember—stay in contact. During this season, you may be dealing with a lot of requests and material-gathering in addition to your daily work. Your financial advisors can check in as little or as often as you want, so don’t be afraid to use the team’s organizational expertise! Set follow-up dates to allow your CPA team to check in with engagement updates.


Step Two: Get Organized

A well-planned schedule can save your team time and your Credit Union money. It should create a timeline of smaller tasks to keep the team on track and eliminate any crunch-time stress.

Time-chunking is an excellent strategy here. Instead of devoting whole days of work to auditing tasks, your team should consider breaking down tasks into manageable pieces. A good schedule minimizes frustration and allows the team to remain available—not absent from day-to-day business for long periods.


Step Three: Get It Right the First Time

Speaking of frustration—remind your team to take breaks when sifting through large amounts of information. If they run out of patience while working on an audit task, they shouldtake a break or delegate. Gathering information while frustrated can lead to incomplete data, which will have to be redone later.


Questions? We're here to help.

Cheers to a low-stress audit season. The first step? Contact our expert team at 985-727-9924 today!

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