Ms Selina Gilleece:

I will provide a quick synopsis as I am very familiar with how it works. The current common practice in credit unions is that it is the responsibility of the manager to produce the set of accounts. That includes the trial balance, the nominal ledger, all the accruals, prepayments and so on. The manager is generally responsible for maintaining the investment portfolio and all those issues. The treasurer of the credit union oversees that process. The accounts are presented to the board and at the year end, the treasurer presents the accounts to the members.