Nearman Maynard Vallez Auditing Services for Credit Unions

Ellen E. Vargo
CPA, CFE, FCPA

Ellen Vargo received her Bachelor of Science in Accounting from Grove City College in Grove City, Pennsylvania.  Ellen joined Nearman, Maynard, Vallez, CPAs, P.A., in October 1997 and currently holds the position of Partner. Ellen successfully completed the requirements for the CPA (Certified Public Accountant) designation in the state of Pennsylvania.  Ellen has earned the CFE (Certified Fraud Examiner) designation from the Association of Fraud Examiners.  Ellen received this certification after an extensive application process and upon passing the uniform CFE Examination.  Most recently, Ellen met the requirements for certification as a Forensic Certified Public Accountant (FCPA).  Forensic CPAs not only utilize their accounting and auditing skills, but also use their investigative skills to determine what events actually took place in a financial setting. 

As a Partner, Ellen is responsible for performing financial and operational audits of credit unions ranging in asset size from $5 million to more than $1 billion.  Her responsibilities include planning and coordinating all phases of the audit engagement, supervising the audit staff, reviewing audit workpapers, and presenting client briefings of audit results and financial trend analyses.  Additional responsibilities include preparing financial statements and management reports detailing audit findings with recommendations after the fieldwork is completed.   She has participated in numerous audits, both federal and state chartered.

In addition to being a Partner of the firm, Ellen is also a member of the firm's Accounting and Auditing Standards Committee. The primary objective of this committee is to ensure adherence to accounting and auditing standards, increase audit efficiency, and quality of services offered by the firm by improving the technical skills of our Associates.

Ellen is an associate member of the Association of Credit Union Internal Auditors and assists our clients with internal audit and compliance services.  In addition, Ellen has also contributed to the American Institute of Certified Public Accountants publication of Checklists and Illustrative Financial Statements for Depository and Lending Institutions for Credit Unions.

In addition, Ellen has conducted educational sessions at our Credit Union Conference in the past. Topics included auditing the loan portfolio, setting up a compliance program, and Supervisory Committee duties and responsibilities.  Ellen has also written several articles for our newsletter, "The Auditor's Report."

Prior to joining Nearman, Maynard, Vallez, CPAs, P.A., Ellen was the Internal Auditor for a $200 million federal credit union in New York.  Some of her responsibilities included scheduling, writing, and performing branch, compliance, regulatory, and financial audits; investigating all fraud and forgery cases; and performing and maintaining internal control reviews over credit union operations.  Ellen provided monthly reports to the Supervisory Committee and ensured all approved recommendations were addressed.