External Audits for Credit Unions

We are committed to providing credit unions with a complete audit service that delivers honest, evidenced assurance. At PGM we strive to provide a transparent service. Our team works closely with every client through all stages of the audit process, from planning through to reporting, in order to ensure there are no nasty surprises.


Although external audits are required by law, there are a number of benefits that can be yielded from receiving an external audit from PGM.

Easy Access

Easy access to sources of finance – such as bank loans


Additional assurance to potential investors or buyers of your company


Provide assurance that your financial statements are accurately stated


Benefit from more informed decision making


Receive detailed management letters outlining internal weaknesses and recommendations for improvement

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One month audit plan

  • Interim Testing

    Interim Testing

    In order to facilitate the timely completion of the external audit, we will perform an interim review which will include performing our initial risk assessment and completing a number of our control tests.

  • Assistance in preparation of the financial statements
    Early October

    Assistance in preparation of the financial statements

    If required we can provide assistance in preparing the draft financial statements and assist with any accounting issues, including, but not limited to, posting accruals and prepayments, posting depreciation and ensuring the accounts are presented in an appropriate template.

  • Final Audit testing
    Late October/November

    Final Audit testing

    We come on-site to complete our year-end audit to ensure compliance with all regulatory bodies is being maintained and that the figures in the accounts are materially correct.

  • Presentation to the AGM

    Presentation to the AGM

    We prepare and present our findings at the AGM through our audit opinion. We would also provide the Board with our management letter.

  • Final Audit testing
    Late October/November

    Annual return

    We assist in the preparation of the annual return which is due for submission by 31st March each year.

PGM External Audit Process

We have developed our bespoke external audit service to deliver honest, evidenced assurance at every stage of the process.

Our approach is divided into three key areas to provide transparency from planning through to reporting.

PGM External Audit Service - Risk Based Internal Audit - Analytic Reviews - Key controls testing

Risk-Based Internal Audit

Key Controls Testing

Analytical Reviews

Our Audit Response System enables us to focus on the processes and requirements most relevant to your credit union.

Free Consultation

Want to find out more about how PGM’s services can help you? Come and see us for a free 45-minute consultation with one of our qualified chartered accountants. We’ll get to know you, or your business, and explore how our services will be beneficial in providing the financial solutions that you need.