Auditing involves the checking of several business departments from its set goals, processes, up to its outputs. This is to ensure that bad practices would be spotted, non-conformities would be corrected, and the members or employees would be reminded of their priorities to significantly contribute to the company’s performance.

This handout from a seminar conducted by NATCCO aims to brief and equip participating cooperatives on the basics of managing and conducting audit. Since cooperatives are comparably similar with enterprises in terms of its operations, having a group of audit people should be in place to ensure that resources are being used wisely and member- employees are properly motivated. The material is composed of three modules focusing on topics such as credit unions in marketplace, audit committee duties and responsibilities, and practical audit methods and procedures. Some illustrations and situational examples are also provided as complementary exercises per module.