Wednesday, November 2, 2011

Where Is the 2010 Corporate CU Stabilization Fund Audit?

We have entered the eleventh month of 2011 and NCUA still has not produced its 2010 audited financial statement for the Temporary Corporate Credit Union Stabilization Fund.

Where is it?

This appears to be a replay of the almost 18 month delay before NCUA released its 2008 Annual Report and audited financial statements for National Credit Union Share Insurance Fund and other funds operated by the agency.

NCUA needs to clearly communicate why it is taking so long to produce an audited financial statement for the Stabilization Fund.

If there are issues with the audit of the Stabilization Fund, credit unions, which are on the hook for paying the expenses for the Stablization Fund, have the right to know.
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2 comments:

  1. AnonymousNovember 2, 2011 at 2:58 PM

    Suppose a Federal Government Agency makes a mistake. It could happen.

    ReplyDelete
  2. AnonymousNovember 3, 2011 at 11:07 PM

    NCUA

    N ot
    C redit
    U nion
    A uditors

    ReplyDelete

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