CHELMSFORD Star Co-op has appointed Mutual One to provide an independent internal audit service for the society.
Mutual One is a subsidiary of the Skipton Building Society and was established to provide internal audit facilities to other building societies, but it is now offering its services to the retail co-operative sector ? and Chelmsford Star is the first society to join up.
Mutual One will undertake the corporate audit function and will report to the society's audit committee, a departure from the previous internal audit arrangements. This change coincided with the planned retirement of the society's internal auditor.
Andrew Gold, Chief Operating Officer of Mutual One said: "Mutual One provides, on a collective basis, a template risk-based audit service in the building society sector which is now utilised by over 30 per cent of that industry."
? Full story in the new edition of Co-operative News, available now.
This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Join the Conversation