Managing Partner of The Curchin Group Facilitates NJCUL's Director Financial Literacy Training Sessions
The Curchin Group, LLC, a mid-sized, full-service accounting firm based in Red Bank, New Jersey, announced today that Managing Partner Robert C. Fouratt, CPA, presented an afternoon and encore evening sessions of a seminar, "Reading and Understanding Your Financial Statements," on May 16, 2012. The sessions were held both "live" onsite at the New Jersey Credit Union League ("NJCUL") office in Hightstown, New Jersey, and remotely via video conference to attendees at both the Atlantic Federal Credit Union in Kenilworth, New Jersey and Members 1st of New Jersey Federal Credit Union in Vineland. The sessions are designed to assist credit union directors in complying with National Credit Union Administration's ongoing financial literacy requirement. The NJCUL is a trade association formed to facilitate the development and growth of the credit unions in New Jersey.
In the sessions held on May 16, Fouratt discussed the basic elements of credit union financial statements, terminology, and how to analyze data. He also reviewed the following areas of risk – transaction risk, strategic risk, compliance risk and reputation risk – then defined each category and provided ways to control and/or mitigate that risk. Said Fouratt, "Credit union volunteers need to be familiar with the activities that their credit union engages in as well as the risks associated with those activities." Fouratt will also lead this seminar topic as well as a second presentation, "Effective Risk Oversight for Board Members," at NJCUL's upcoming Annual Meeting & Convention being held at the Revel Resort in Atlantic City, New Jersey from September 30 to October 2, 2012.
Fouratt leads Curchin's credit union practice, which provides auditing, accounting and consulting to over 35 federally and state chartered credit unions. He has over 25 years of public accounting experience, which includes a focus on working with financial institutions, not-for-profit organizations and closely-held small to mid-size businesses. Fouratt has also written numerous articles and presented to many associations regarding credit union governance, regulations and other relevant topics.
Celebrating over 55 years in Monmouth County, New Jersey, The Curchin Group, LLC is a certified public accounting firm that helps small to mid-sized businesses and individuals reach their financial goals through providing a broad range of Assurance; Tax; Financial Planning; Business Advisory; and Litigation & Valuation Services. The firm is dedicated to giving solid accounting and financial advice, sustaining long-term relationships with its clients and employees and giving back to the surrounding community.