Committees : Audit
A proposed recent accounting change means that small banks will miss out on a change on how loan modifications are treated and will need to revert to the onerous accounting and reporting requirements.
If the first line of defense in the credit risk management program underperforms, all three lines — and the bank — suffer.
The OCC has released its annual accounting bulletin addressing three key items that are considered the most relevant to national banks.
Banks have a number of ways — from mandatory vacations to corporate policies — that can help minimize revenue lost to fraud.
To prepare for the future, bank audit and risk committees should review and reconsider how the pandemic altered business operations and the control environment.
Highlights from the banks that adopted the new loan loss accounting standard could prove very useful to other community banks as they work toward the January 2023 effective date.
In a time when payment deferrals and modifications are numerous and widespread, and government-assisted credit is necessary, how banks identify problem loans change?
Banks helped struggling borrowers and provided better insight into credit quality after regulators suspended loan modification rules.
While there are no shortcuts, there are a few key steps banks can take when remediating a compliance issue the first time.
Jon Tomberlin of Dixon Hughes Goodman weighs in on the audit committee’s role during a pandemic.