The updated lease accounting standard is currently in effect for private companies, including many financial institutions. After postponing several times during the pandemic, the Financial Accounting Standards Board (FASB) voted
Thousands of finance employees suddenly found themselves working from home during the pandemic. In some cases, this meant turning to personal devices to access their work email, handle documents, and
By: Andy Clemens, CPA, CIA What happens if two or more individuals in your financial institution collude to commit fraud? According to the Association of Certified Fraud Examiners’ (ACFE) 2022
By: Andy Clemens, CPA, CIA These days, it’s common for financial institutions to purchase cyber insurance to help mitigate financial losses from network breaches. According to the U.S. Government Accountability
On May 12, 2020, the Federal Deposit Insurance Corporation (FDIC) approved a proposed rule designed to help alleviate the deposit insurance assessment effects of participating in certain programs established by
On April 9, 2020, the federal bank regulatory agencies declared an interim final rule related to the Small Business Administration’s Paycheck Protection Program (PPP). The Coronavirus Aid, Relief, and Economic
During these unprecedented times, banks may be asked by customers about loan payment deferrals. While this can be a straightforward process for consumer non-real estate loans and business loans, residential
In the summer of 2017, the Federal Deposit Insurance Corporation (FDIC) provided guidance on managing liquidity risks in the 21st century. In volume 14, issue 1 of the FDIC’s ‘Supervisory
The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) recently released a joint statement on heightened cybersecurity risks. While many financial institutions are addressing
The Department of the Treasury Financial Crimes Enforcement Network (FinCEN) requires financial institutions to file currency transaction reports (CTRs) for certain cash transactions, and many transactions are performed by persons
