MCCU Annual Report - page 104

MANCHESTER CO-OPERATIVE CREDIT UNION
ANNUAL REPORT 2013
104
Supervisory Committee Report
The credit unions across the globe face enormous challenges in the current marketplace and
economic environment. Although some have defined the challenges as insurmountable, Manchester
Co-operative Credit Union envisions a brighter future. We believe that our Credit Union can continue
to make a significant difference in the lives of our members.
The Supervisory Committee has been entrusted with the responsibility of ensuring that the assets
of the Credit Union are being managed prudently and in the interest of the members. It is on this
premise that the Committee, supported by the Internal Auditor, dedicated quality time and resources
in examining the financial records and operations of the Credit Union. The general objectives
were to ensure efficiency and effectiveness, accuracy of financial records, as well as establishing
whether the control environment was adequate to reduce the risk for impropriety. As mandated,
the Committee reported on its audit activities to the Board of Directors on a monthly basis. This
facilitated the communication of appropriate recommendations to strengthen the internal controls
where necessary.
During the financial year, January to December 2013, fourteen (14) committee meetings were held.
The attendance of the members is outlined in the following table:
I...,94,95,96,97,98,99,100,101,102,103 105,106,107,108,109,110,111,112,113,114,...126
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