Internal Audit
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Internal Audit Services

In a challenging and ever-changing regulatory environment, internal audit services strengthen your ability to identify, assess and manage business risks at your bank or credit union. Management and directors can use this process to guide their risk management responsibilities and drive value throughout the entire organization.
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The Y&A ADVANTAGE

At Young & Associates, our internal audit services will help you maintain an effective system of internal controls, mitigate your risk posed by non-compliance, and identify potential improvements in operational areas to add value or reduce costs. Our services include risk assessments and audit plans, internal audit outsourcing or co-sourcing, and audit committee advisory.

Whether your financial institution is looking for a firm to provide full internal audit coverage or to complement your in-house audit resources, our qualified consultants can assist. We have experience in audits for financial institutions of all sizes and we can tailor our services appropriately to fit your needs and the complexity of the audit required. Contact us to learn more about our internal audit services.

Our Internal Audit Services

Internal Audit Outsourcing & Co-Sourcing
Outsourcing & Cosourcing
Outsourcing & Cosourcing
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Leverage the experience of our team, while increasing the efficiency and effectiveness of your internal audit function. Young & Associates offers internal audit outsourcing and co-sourcing, so you can gain access to our qualified consultants on an ongoing basis at the frequency and scope your financial institution requires.

With internal audit outsourcing, we provide an assessment of the effectiveness of your system of internal controls in operational areas having the greatest potential risk to the organization. We also provide ongoing, risk-based audits of loan operations, deposit operations, wire transfer operations, branch operations, and financial and accounting operations, including investments.

Our internal audit co-sourcing service offers differing levels of resources dependent upon your institution’s needs. We offer resources to complement your existing staff to assure completion or to expand the coverage of your established internal audit program.

Risk Assessment and Audit Plans

Our control risk assessments identify the areas considered to have the greatest potential risk to your financial institution. These assessments prioritize key areas of potential risk in the current business and regulatory environment and identify the operational strengths and weaknesses of your organization. Once identified, these key areas become the focus in the development of the internal audit plan. We can help you establish an internal audit plan that provides for risk management and governance, as well as opportunities to improve effectiveness throughout your institution.

Organizing the Audit Functions

An effective internal audit function is essential to providing objective assurance of the control structure to directors and senior management within your financial institution. We assist with establishing an audit committee and its charter, reporting mechanisms, and monitoring processes that enable effective oversight. Our experienced consultants can also help your organization establish internal audit methodology, policy and procedures, internal audit tools and reporting standards.

Organize Audit
Organize Audit
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FHA Branch Audits

Our quality control specialists perform annual branch audits, as required by the U.S. Department of Housing and Urban Development for traditional and non-traditional branch offices engaged in the origination of FHA insured loans.

FHA Audit
FHA Audit
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Connect with a consultant

Contact us to learn more about our consulting services and how we can add value to your financial institution