Audit & Consulting

Serving credit unions for more than 35 years, LEVERAGE's Audit & Consulting Services offers a comprehensive menu of financial and compliance audits performed by certified field experts. These services help credit unions remain compliant and meet examiner requirements, all at competitive prices.

Audit Solutions

• Interim Audit Services: Interim audits performed by LEVERAGE Audit & Consulting ensure a sound internal control environment at all times. For a complete description of what functions are performed for an Interim Audit, click here.
• Opinion Audit: Working in association with the Credit Union Practice Group of the CPA firm of Barfield, Murphy, Shank, & Smith, LEVERAGE Audit & Consulting offers fully certified Option Audit services. Our combined credit union expertise is a resource for credit unions that is both profound and rare. For more information about Barfield, Murphy, Shank & Smith, click here.
• Supervisory Committe Audit: Conducting both financial and operational reviews, detailed audits of your accounting system and internal controls are performed to ensure compliance with regulatory standards. Click here for a description of the duties and responsibilities of the Supervisory Committee.
• Verification of Members' Accounts: Required by regulations to be performed bi-annually verification of members' accounts consists of obtaining independent evidence as to the completeness and accuracy of the credit union's records regarding member share and loan balances. LEVERAGE Audit & Consulting performs these required verifications on behalf of the Supervisory Committee.

Compliance Solutions

• ACH Audit: Required by regulation to be performed by December 1^st each year, LEVERAGE Audit & Consulting Accredited ACH Professionals (AAP’s) conduct these audits pursuant to NACHA operating rules for receiving depository financial institutions (RDFIs) and originating depository financial institutions (ODFIs).
• Bank Secrecy Act - Security Review Audit: LEVERAGE Audit & Consulting performs extensive testing in all areas related to BSA and conformity with NCUA rules and regulations. For a complete description of what functions are performed for a BSA – Security Review Audit, click here.
• Consumer or Mortgage Lending Audit: A periodic review of your loan portfolios beyond the normal financial audit procedures can provide a great deal of assurance and comfort to management about unforeseen and potentially expensive compliance related issues. LEVERAGE Audit & Consulting provides a thorough review of all compliance issues related to your consumer or real estate loan portfolio.
• OFAC Assessment: Stay in compliance with Office of Foreign Assets Control (OFAC) regulations with LEVERAGE Audit & Consulting's OFAC membership assessment. This assessment consists of comparing the credit union's membership lists to current OFAC and NS-PLC lists to ensure regular due diligence and adherence to OFAC laws.

Management Consulting

• Bond Claims & Special Investigations: LEVERAGE Audit & Consulting's experience and relationship with the bond companies and authorities provide a valuable resource for handling the unique investigation requirements related to bond claims. These services provide a discreet method for identifying and documenting any loss and in preparing the related bond claim.
• Change of Management Audits: Ensure a smooth transition when top management transitions occur at your credit union. The additional procedures provided with a Change of Management Audit provide protection for both incoming and outgoing management, as well as the Board of Directors.
• Reconciliation Services: Ensure that your reconciliations stay up-to-date. LEVERAGE Audit & Consulting performs these services for credit unions; they include, but are not limited to, subsidiary records, general ledger, fixed assets, prepaid expenses, and monthly bank account statements.

For more information, click here to contact a Business Development Consultant.