Exam Procedures

Examiners may review internal controls over the following operational areas. This is not an exhaustive list; credit unions may establish internal controls to govern additional areas. Examiners rely on their professional judgment to determine which internal controls to review.

• Accounting/General Ledger

• Cash

• Corporate Credit Cards

• Do Not Mail (No Statement) Accounts

• Dormant Accounts

• File Maintenance

• Insider Accounts

• Internal Control Audits

• Investments

• Loans

• Negative Shares

• Wire Transfers

Examiners who discover anomalies while completing the internal controls review discuss their findings with the supervisory examiner. If an examiner identifies or suspects fraud, refer to the NSPM and the Fraud chapter of the Examiner’s Guide.

Last updated on October 14, 2021