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

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; and
• Internal audit.