EisnerAmper Ireland | Credit Unions | Financial Services | EisnerAmper Ireland Ireland

EisnerAmper Global

Credit Unions

Credit Unions have come through the worst of the economic storm but are still facing challenges.  As a result, significant numbers of credit unions have identified viability threats which are leading to accelerated restructuring activity in the sector.

We assist Credit Unions navigating these challenges including:

  • regulatory needs (e.g. audit, internal audit, asset reviews, risk mitigation programme plans, liaison with the CBI);
  • achieving best practice (e.g financial projections, internal controls reviews, governance reviews, advisory);
  • meeting challenges in current environment (e.g. strategy planning, mergers, due diligence); and
  • addressing market forces (e.g. via business planning services).

Our experience in this sector leverages having advised and reviewed in excess of 200 credit unions and currently working with some of the largest credit unions, auditing some of the largest credit unions in the state and working on some of the largest merger transactions. Other experience includes lecturing for CUMA and Chartered Accountants Ireland, chairing the committee to re-write “PN27 (I) the audit of credit unions in the Republic of Ireland” and serving on advisory panels, such as the Credit Union Advisory Committee (CUAC), for the Department of Finance, the Central Bank and ReBo. Our directly applicable credit union experience is evidenced by the provision of the following services to the Central Bank of Ireland, ReBo and credit unions:

  • Asset reviews (loan book, investments, fixed assets);
  • Merger due diligence reviews;
  • Business case preparation;
  • Project managing transfers of engagements;
  • Review of financial projections for combined entities;
  • Suitability assessment reviews;
  • Restructuring services;
  • Governance and internal controls reviews;
  • Transaction advisory services;
  • Transfer & integration planning;
  • Regulatory compliance reviews;
  • Statutory audits;
  • Oversight roles;
  • Internal audit; and
  • Training & Consulting.

Diarmaid O'Keeffe

Head of Financial Services Partner

Diarmaid is a Partner & Head of the Firm’s Financial Services department and member of the Credit Union Advisory Committee (CUAC). Diarmaid provides audit and assurance services to the firm’s domestic and international Financial Services clients, including aircraft leasing vehicles, mortgage backed securitisation vehicles, collateralised debt investment vehicles and pension funds.  Diarmaid also leads the provision of the Firm’s advisory services to Irish and international retail banks. Diarmaid works with the Firm’s corporate clients on pension’s compliance, financial reporting, risk management, internal and external audit and regulatory matters. As Partner on engagements with both the Central Bank of Ireland and the National Asset Management Agency (“NAMA”), Diarmaid has extensive experience undertaking multiple asset, governance, due diligence and business plan reviews.

6 The Courtyard Building
Carmanhall Road
Dublin, D18 CA22

Tel: +353 1 2933 441

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