For those clients who do not require a certified audit, we can perform a Supervisory Committee Guide Audit. Although this type of audit does not offer an opinion, it does satisfy the minimum requirement for the Supervisory Committee to comply with regulatory agencies.
In addition, according to Appendix A of NCUA's Supervisory Committee Guide, “The Supervisory Committee, its independent accountant, or other accountant may also need to perform additional procedures to supplement these minimum procedures if the specific circumstances of a particular credit union so dictate. The Supervisory Committee must apply its judgment in determining the procedures necessary to meet Guide requirements. By publishing this Appendix, NCUA is not representing that a Supervisory Committee which performs or has performed these minimum procedures, and these procedures only, will have fully met the requirements of Part 715. The Committee remains responsible to ensure that a complete set of procedures is performed.”
Nearman, Maynard, Vallez, CPAs follows NCUA's minimum guidelines and we convey our findings in a management report containing recommendations for internal control and improving operating efficiency.