Investments audit

Hi all,how many of you audit the investments for your credit union as well as have this completed by your external auditors. The VP just finished writting the new investment policy and has included the following section " at least semi annually the IA will perform procedures to reconcile the ivestment accounting reports to the CU's books and review a sample of the investmnent transactions for adherence to this policy"...this seems like a duplication of work as it is done by our audit firm or am I not seeing the whole picture in its entirety? I really don't need work added to my calendar and as I am not an accountant this will add substantially to my workload. Any ammo that I can collect in my favor would be appreicated. Thanks! we are about $350Mil with 1 auditor