Credit Union

February 10, 2014

BAKER TILLY PUERTO RICO, CPA’s, PSC  provides the following services to Credit Unions:

Financial Audits

Operational Audits

Accounting Audits

Internal Control Evaluations

Evaluation of risk capital to total risk assets ratio in compliance with the dispositions of Newsletter CIF-99-1 issued by the OCIF

Evaluation of the Credit Union’s classification through the CAMEL indications in force; as revised.

Quarterly and Semiannually Reviews

Assistance to Supervision Committees in their law required audits

BAKER TILLY PUERTO RICO, CPA’s, PSC oversees Credit Unions’ proper compliance of the following laws, standards and rulings established by PROSAD-COOP, the OCIF and the laws of the Commonwealth of Puerto Rico including: Ruling Number 5547, dated February 10, 1997; Ruling of Law number 6, dated January 15, 1990; law number 5, dated January 15, 1990, Law of Corporation of Shares and Deposit Insurance of Credit Unions, as revised; Law number 88, dated June 21, 1966, Law of Puerto Rico’s Credit Union Bank; Law number 6, dated January 15, 1990,  Law of Credit Union Societies of Puerto Rico ,as revised; Insurance Code, Chapter 34, Credit Unions; Law number 4, dated October 11, 1985, as revised, known as the Puerto Rico’s Financial Institutions’ Commissioner’s Law; Others.

We have served over fifty five credit unions during the past years including annual financial audits, operational audits, letter of recommendations, information technology services, etc.