By: Freddie Young In the current landscape of community banking, navigating the regulatory terrain is essential to maintain the integrity and security of financial systems. Among the necessary pillars of
By: Andy Clemens Effective payroll management is crucial for any organization, especially in the financial sector where precise and timely payment of employees is paramount. See below for five common
“I never would have suspected that person!” This is often the response from management when questioned about an employee who has been caught engaging in fraudulent activities within their financial
In light of the ever-evolving financial landscape and the importance of maintaining adequate liquidity, federal financial institution regulatory agencies have recently issued updated guidance on liquidity risks and contingency funding
By: Andy Clemens The Financial Accounting Standards Board (FASB) has issued revised lease accounting rules for financial institutions. These amendments clarify rental agreements between businesses with the same owner. The
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
