We understand the specialized markets in which you operate and provide tailored solutions to meet your unique business needs.
Our comprehensive suite of business services combines industry expertise, market knowledge and professional insights.
MNP is a leading national accounting, tax and business consulting firm in Canada.
Suite 2000, 330 5th Ave. S.W.
MNP careers are Different by Design. As an entrepreneurial firm, we truly believe there are no limits to where your career can go.
Canada has a vibrant and thriving network of credit unions; one that is making steady gains by creating collaborative partnerships, staying true to the cooperative principles and living their vision of being an integral part of their communities. To stay competitive and profitable, today’s most successful credit unions must respond to external forces (such as changing relations, consolidation and member needs) and internal forces (such as staffing, operational effectiveness and changing technology), while balancing the credit union system forces in play.
We proudly work with more than 135 credit unions across Canada – more than any other professional services firm in the country. Like you, we are committed to the communities where we live and work. We aim to strengthen credit union leadership, knowledge and financial position by providing technical, business and financial advice with a local perspective, while also helping you understand your place in a dynamic national landscape. We offer a custom suite of services specifically designed to help credit address your most pressing concerns, from board governance to technology solutions to regulatory compliance.
We understand the rigorous compliance requirements Canada’s credit unions face and offer peace-of-mind through external audit, assurance, technical guidance and financial reporting. Working together, we maximize value through communication and an experienced team that truly understands not just financial services, but credit unions.
External Audit and Financial Statements Services
Financial institutions have some of the strictest regulatory and auditing requirements in Canada. We employ rigorous quality controls to deliver a trusted opinion on your financial statements. Our comprehensive audit package provides independent peace-of-mind to your board while ensuring you are meeting existing compliance requirements and preparing for future shifts in legislation and reporting. Our audit approach is tailored specifically to credit unions. Even our newest team members have hours of industry-specific training, ensuring a comprehensive understanding of credit unions and how to add value as part of the audit process. We view audit not just as a compliance exercise, but as an opportunity to lend our expertise in many areas of your business as a by-product of our process.
You need to focus on responding to member needs, considering changes to your strategy, people, process or technology. We help guide you through these areas, driving continuous improvement through all aspects of your credit union and creating the culture and governance necessary to thrive in this time of change.
Credit unions are constantly evolving to respond to member needs and the competitive environment in which they operate. Our deep industry experience can assist your credit union in addressing strategy, people, process or technology, creating a strong bottom line, engaged employees and a sustainable future. We take the time to fully understand your needs before providing tailored solutions based on proven methodologies. Whether your challenges lie with meeting member needs, assessing technological advances or finding operational efficiencies, we work collaboratively with you to ensure your credit union is positioned for success.
As we have seen in recent years, tax legislation can change when you least expect it. As you adapt to the removal of the additional deduction for credit unions, look for guidance on FATCA requirements and maximize your Scientific Research and Experimental Development (SR&ED) claims, MNP provides the support you need. We keep you up-to-date on new tax developments and identify opportunities to minimize your tax exposure.
Every dollar counts in the credit union industry, especially as credit unions are being asked to do more with less, as previous government incentives are being curtailed. We help you ensure compliance while working to maximize returns. Our services include a full review of annual federal and provincial corporate income taxes, assisting with returns, as well as GST advisory and compliance support. We explore opportunities to enhance your corporate tax structure in advance of a merger or acquisition. If your credit union is involved in research, development or other technology-driven innovations, we work with you to maximize your Scientific Research & Experimental Development (SR&ED) tax credits.
These areas are top of mind for credit unions and regulators alike, to ensure you are ready for the next challenge. Whether seeking a federal charter or positioning yourself for inevitable provincial regulatory changes we help you effectively manage your priority risks, including assistance with enterprise risk management, internal audit, technology risk (cyber security) and business continuity.
Enterprise Risk and Internal Audit Services
Emerging regulatory requirements, global economic uncertainty, industry consolidation and increasing incidents of fraud are only some of the major trends that are forever changing the risk landscape for Canada’s credit unions. We offer a comprehensive suite of enterprise risk solutions specifically designed to help credit unions effectively manage their priority risks, including assistance with enterprise risk management, internal audit, technology risk (cyber security) and business continuity. Whatever your specific needs, MNP works with you to implement tailored, cost-effective risk solutions.
Credit unions carry a significant compliance burden when it comes to anti-money laundering and financial reporting compliance. We help you meet your obligations and safeguard your assets.
Regulatory and Compliance Services
Financial institutions are under increasingly strict regulatory requirements when it comes to anti-corruption and anti-money laundering compliance. We have worked with credit unions across Canada, as well as other financial institutions, assisting them in building a strong compliance regime that complies with FINTRAC requirements. Sometimes the unthinkable happens and a credit union is faced with fraud. With many ex-law enforcement officers on our forensics team, we have the firsthand expertise you require and will help your credit union recover and deal with implications. We understand how critical it is to have a strong focus on minimizing risk, ensuring compliance and protecting the assets of your credit union and its members.
Annette Bester, CPA, CA is an Audit and Business Advisory Partner in MNP’s Saskatoon office and the National Credit Union Leader for the firm. For over 14 years, Annette has helped credit unions support and strengthen their leadership through strong financials and significant contributions to their communities by providing expert advice on technical accounting and business issues.
MNP offers offices strategically located in urban and rural centres throughout Canada.
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Suite 2000, 330 5th Ave. S.W.
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