Business

CLA named as the top audit firm for credit unions

The current average asset size of the firm’s credit union clients stands at $1.36bn, up from $1.2bn last year

CliftonLarsonAllen (CLA), the professional services firm, has revealed it has been named the top audit firm for credit unions for the eighth consecutive year by Callahan and Associates. 

The rankings are published in the 2021 Supplier Market Share Guide: Credit Union Auditors.

CLA said it “continues to outpace” all auditors on the list in terms of the raw number of credit union clients with more than $40m in assets. The current average asset size of the firm’s credit union clients stands at $1.36bn, up from $1.2bn last year.

Aman Johal, industry analyst at Callahan and Associates, said that the ultimate goal of the 2021 Market Share Guide “is to help credit unions identify the perfect ally to anticipate and avoid legal, financial, and even technology-related pitfalls”. 

In addition to the annual rankings, the guide discusses trends that impacted credit unions over the past year.

Using financial data as of March 31, 2021, CLA’s top ranking was based on the following statistics:

  • Total credit union clients > $40 million: 242
  • Total credit union clients $40 million to $100 million: 36
  • Total credit union clients > $100 million: 206
  • Total assets of credit union clients > $40 million: $331,018,051,017
  • The data for the rankings was compiled from July 1, 2020, to June 30, 2021.

Charlie Cameron, CLA’s managing principal of the financial institutions practice, said: “We’re honored to be included again in this year’s guide. Our top ranking is a result of our hands-on and comprehensive approach to audit services, as well as our commitment and enthusiasm to deliver exceptional service to our credit union clients.”

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