The National Credit Union Administration has recently updated its policies governing the submission of audit reports prepared by external auditors. NCUA examiners are now requesting newly completed audit reports be submitted directly to the examiner from the external auditor. NCUA has noted one acceptable delivery method is to utilize a secure portal to ensure the audit report submitted to NCUA is authentic and unaltered.
Developed by CPA.com, RIVIO is a platform that validates CPA firms, and ensures that unaltered financial documents are delivered to key financial stakeholders, such as the NCUA. In addition to providing a secure environment to transfer audit reports, using such a portal also avoids impairing independence which occurs when an external auditor directly providing the audit reports directly to the examiner.
Join this session to learn how RIVIO is one method that can be utilized to satisfy the new NCUA procedures for the delivery of audit reports.