Every Credit Union is obliged to have its annual financial statements audited by an External Independent Statutory Auditor.

WDA act in this capacity for a large number of Rural, Community and Industrial Credit Unions throughout Ireland.

We have the expertise and resources to complete your statutory audit in a timely and efficient manner in order to comply with your regulatory needs and timeframe for AGM and other reporting deadlines.

As with all of our engagements both consultancy and regulatory WDA will produce a comprehensive tender document for the Boards consideration, which sets-out the exact terms of the engagement, so there is absolutely no ambiguity to the scope of the engagement.

All professional fees are agreed between WDA and the Credit Union prior to the commencement of the engagement at a mutually agreeable level, so there is no hidden surprises or overruns.  In addition to this, if the board wishes to fix their audit fees, WDA will provide a quotation for a three-year period, thus ensuring no unforeseen increases. We also have several payment plans available to the Credit Union to assist in cashflow and monthly budgeting.

Within the scope of our engagement as your statutory auditor, WDA will complete a 6-month interim audit and prepare a detailed report for the boards consideration, and will be on hand to present same to the executive, full board or both.

As communication with the Credit Unions members is vital at AGM, a WDA partner will be in attendance to present our audit report and highlight significant issues within the financial statements.  We welcome all questions from the floor / membership and pride ourselves in our ability to present complicated financial information to the members in easy to understand language, as most members would not have formal financial training to interpret the financial statements.

Financial information is only communicated to the members on an annual basis at AGM, but we are seeing a number of Credit Unions choosing to distribute 6 monthly Audited Financial Statements to their members, to ensure they are fully informed of the financial health of their Credit Union.  WDA can easy complete this as part of the interim audit if required.

With the level of legislation and regulation both current and future, governing the Credit Union Sector, it is vital for the Board to have a strong professional firm such as WDA acting as their Auditors. The five yearly auditor rotation system will ensure the Credit Union obtains new independent advices and views to assist them is complying with their obligations.

Should you require additional information or a quotation please call us on 01 6771411 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it