Outsourcing or co-sourcing internal audit functions are increasingly valuable solutions for credit unions. Given the complexities of financial institutions and increasing regulatory requirements, it is becoming increasingly difficult for credit unions to maintain a team of internal auditors who are well-versed in all aspects of the operations. More and more institutions favor the value proposition outsourcing or co-sourcing their internal audits provides.
An effective Internal audit team needs to have a broad mix of skills, and a wide variety of experience. Using a co-sourcing solution means having access to an experienced partner while not having to worry about building and maintaining an internally staffed department.
Under a co-sourcing arrangement, once a project is done, the clock stops – and so does the cost. Co-sourcing works at all levels of internal audit and can be less expensive than bringing all the requisite skills in-house.
We offer a wide range of internal audit services and a staff of auditors with proven industry experience to deliver meaningful results. Outsourcing or co-sourcing your internal audit with Parama Partners will allow you to execute projects quickly and with the depth of knowledge and non-biased approach management requires.
Our internal audit group is composed of professionals who have been on both sides of the table and understand that identifying issues is only the first step in solving problems. What credit unions need from their auditors are pragmatic, innovative solutions and action based results.