WSECU’s five-member Supervisory Committee, elected by the membership, is charged with overseeing the credit union’s financial safety and security. The members of the Supervisory Committee oversee the work of the credit union’s Audit Services Department and engage outside auditors for the annual financial audit. We review monthly financial statements, internal audit and regulatory examination reports, and the annual financial audit results.
On behalf of the members of WSECU, we engaged the CPA firm of Moss Adams LLP to perform the independent audit of the credit union’s consolidated financial statement. The audit of the consolidated financials, as of and for the year ended December 31, 2016, expressed an unqualified opinion. An unqualified opinion means the financial condition and results of and operations of WSECU are fairly presented, in all material respects, in the financial statements. This is the best report to receive from an external auditor.
A summary of the financial statements is provided in this report. The complete consolidated financial statement and the report of the independent CPA firm are available for viewing at WSECU’s corporate office in Olympia, Washington.
Wendy Weeks 2016
Supervisory Committee Chair