Course Summary

Duration3 hours


Course Details

Session 1: The Challenges and Opportunities Facing Irish Credit Unions

1 hour David Matthews, Head of Monitoring, Irish League of Credit Unions

This course will cover the following topics:

  • Introduction
  • Trends
  • Current year performance and issues facing credit unions
    • Loans
    • Savings
    • Income
    • Expenditure
    • Mergers
  • Expectations for next year
  • Strategies being employed by credit unions to deal with issues
    • Strategic Objectives
    • Specific actions being taken

Session 2: The Evolution of the Credit Union Balance Sheet

1 hour Cathal Tyther – Solution Centre

This course will cover the following topics:

  • What we do
  • Typical Financials Today
  • Evolution of the Loan Book
  • Target Balance Sheet
  • Evolution of the Balance Sheet
  • Digital Marketing Funnel
  • Affordability Calculator
  • Mortgage Lending via SAM

Session 3: Credit Unions – Key Audit Issues and Considerations

1 hour Michelle O’Donoghue – RBK

This course will cover the following topics:

  • Financial Statements
  • Laws and Regulations
  • Fraud and Error
  • Reliance on Risk, Compliance and Internal Audit
  • Accounting estimates
  • Related parties
  • Balance sheet procedures
  • Going concern
  • Other audit work
  • Central Bank focus
  • Other information
  • Management letter
  • Statutory Duty Confirmation
  • Section 122

CPD Course Facilitators:

David Matthews, Head of Monitoring, Irish League of Credit Unions

David Matthews joined the ILCU as a field officer (internal auditor and business adviser) and was promoted in his first year to the position of Business Unit Manager. This evolved into a relationship management-type role. Over the years David became the primary point of contact in the League for credit unions with business issues. With the advent of new credit union legislation in 2013 David supported and advised credit unions in the implementation of new practices such as strategic planning, risk management and compliance.

Cathal Tyther – Solution Centre

Cathal heads up Solution Centre, joining the organisation from ReBo (The Credit Union Restructuring Board). Prior to this Cathal served as chairperson of Tralee Credit Union giving him a unique insight into the needs of individual Credit Unions and the movement as a whole.

Michelle O’Donoghue – RBK

Michelle is a highly experienced chartered accountant with responsibility for the planning, co-ordination and delivery of business risks services to Credit Unions and clients operating in the Charity and Not for Profit Sector. Michelle is a regular speaker at the annual RBK Credit Union Conference and provides training to RBK clients in the areas of Risk, Governance and Compliance.

A graduate of University College Cork, Michelle is a fellow member of Chartered Accountants Ireland. She holds a Diploma in International Financial Reporting Standards and a Certificate in FRS 102. Michelle joined RBK in 2015 as senior manager within the audit and assurance department having previously worked for 14 years with Dublin based firm Smith & Williamson.