The newly released 2003
Guide to Credit Union CPA Auditors examines the current market
share ranking of CPA firms by state. Of the 2,253 credit unions
over $40 million in assets examined in the 2003
Guide, 774 credit unions, or 34 percent, reside in the five
states with the most number of credit unions over $40 million in
assets: California, Michigan, Texas, New York and Ohio. What is
significant about these five states is that 92 percent of their
credit unions over $40 million in assets have engaged with one of
the top 32 CPA firms compared to just 84 percent for all other states.
The top 32 firms not only bring credit union auditing experience
but also provide a number of other complex business services such
as knowledge of data processing systems, CUSO operations, and on
and off balance sheet management techniques. Due to increased concerns
about corporate governance, credit union Supervisory Committees
are looking to their auditor to help provide them with a better
understanding of these complexities and guidance on how to make
certain that the appropriate checks and balances are in place within
the credit union.
Below is a ranking of the top 3 CPA auditors in each state for
California, Michigan, Texas, New York and Ohio.