Internal Auditing Needs More Support in the National Credit Union Administration

In a recent review of the National Credit Union Administration's (NCUA) internal audit function, the Office of Internal Audit and Investigation was assessed against widely accepted professional internal auditing standards formulated for private industry and Government. The NCUA management control system includes a network of information systems and review groups designed to supply information to policymaking levels where it can be evaluated and acted on. Because of its independence, the Office of Internal Audit and Investigation is in a unique position to play a key role in the NCUA management control system. However, internal auditing needs more support in NCUA because the small size of the unit prevents it from carrying out all of its responsibilities.