Through boom and bust, BK has continued to help keep us profitable and they are a great source of positive encouragement. Nothing is too much trouble. I would recommend BK without hesitation to anyone in business or thinking of starting a business – BK is a firm of accountants who are professional, knowledgeable, experienced and who will go the extra mile.
Credit Unions Support
Buckley Kiely & Co has a long association with credit unions, going back to the 1970’s! During this time we have witnessed first hand, the monumental changes that have occurred both within the movement as a whole and within individual credit unions.
The economic difficulties of recent years and the increase in appetite for regulation of the financial sector has resulted in the emergence of a whole new set of challenges for credit unions.
- Separation of duties of the Board – now required to stay removed from the day-to-day credit union operations
- Compliance & Risk Assessment requirements
- Strategic Planning requirements
- Complex, detailed financial reporting requirements to the Central Bank
- Decreasing funds – due to reducing loan books, member difficulties with loan repayments and reducing returns on investments
- Increasing costs – due to regulation, compliance and staffing requirements
A similar regulatory model to that applied to profit-making financial institutions is now being applied to voluntary-run credit unions, who have nowhere near the same level of resources available to them.
So, how can credit unions maintain the ethos of running community based locally-funded alternatives to the banking sector – financial services by the people for the people, while still complying with these demanding new regulations?
Buckley Kiely is offering credit unions a range of support services, providing them with the know-how, technical capabilities and expertise now required to meet their regulatory and compliance obligations.
Meeting regulatory requirements while maintaining the spirit & ethos of Credit Unions.
Our credit union support services include:
- Strategic Planning
- Risk Assessment & Risk Management
- Policies & Procedures
- Due Diligence & Mergers
- Marketing Support
- Internal Audit
- Health Check
- Management Information
- Training & Change Management
- Investment Advice
- Loan Book/Asset Reviews
- Credit Committee Work
- Tax Advisory
“Buckley Kiely first completed the annual audit for Millstreet Credit Union back in 1978 – so that’s nearly 40 years we’ve been using their audit services. This is testament to the superb quality of their work and the fact that the audit team are so pleasant to deal with. Buckley Kiely really understand credit unions, how we operate and the issues we often face. Buckley Kiely’s expertise and advice has been invaluable. We would have no hesitation in recommending them to fellow credit unions.”
– Millstreet Credit Union, Co. Cork
“Newmarket Credit Union first began working with Buckley Kiely in the 1970′s. They have provided us with a range of services including Loan Book Reviews, Management Accounts, Infrastructure Review, Implementation of Computerised Accounts and Report Design, none of which could have been achieved without their knowledge and dedication. They are always available at the end of the phone and we have built up a very good working relationship with their staff.”
– Newmarket Credit Union, Co. Cork
Buckley Kiely Credit Union Team
John Flynn // Partner
John, who joined the practice in 1996, has more than 25 years’ experience in accounts and audit and has completed a wide variety of assignments including the audit of credit unions. A Fellow of the Association of Chartered Accountants, John was admitted as a partner in 2004. In recent years John’s focus has been on expanding the Business Support division of the firm, providing systems and structure reviews and assisting clients in the development of their reporting systems. John has headed up a number of Independent Business Reviews (IBRs) both for banks and directly for business owners. Email John
Denis Crowley // Manager
Denis has over seventeen years’ experience in practice with thirteen years’ experience in the management of the provision of a full suite of practice services to a portfolio of approximately 150 clients comprising a wide variety of assignments across diverse industries. A Credit Union specialist with over fifteen years’ experience in the provision of a full range of assurance and non-assurance services to a variety of credit unions. In recent years, the focus has been on the provision of loan book review services and advising on the implementation of control systems and procedures. Email Denis
Andrew Moynihan // Manager
Andrew, who joined Buckley Kiely in January 2008, is a qualified Chartered Accountant. Andrew has worked in practice for over 20 years providing support and advice to small and medium enterprises. Andrew also has extensive experience in the audit of credit unions and solicitors. Email Andrew
Hilda O’Donovan // Management Consultant
Hilda has over 25 years’ experience implementing business procedures and controls for clients. She has extensive experience also in the areas of evaluating, completing reviews and providing advice on the systems of financial recording and controls, organisational systems and structures for clients in a variety of business sectors. A member of the Board of her own local credit union, Hilda brings in-depth knowledge and understanding from the credit unions perspective to the Credit Union Team. Email Hilda.