Committees : Audit
This article describes questions board members should ask about internal fraud to exercise proper oversight.
An effective audit committee is a critical component of a financial institution’s corporate governance and combines four key components: people, resources, support and approach.
Whether your bank uses an in–house, an outsourced or co-sourced internal audit function, the internal audit program must be independent.
In the wake of the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act stress test (DFAST) regulations, the term “stress test” has become a familiar part of the banking lexicon.
As acquisitions continue to play a major role in financial institutions’ strategic growth plans, management teams and boards are under increasing pressure to deliver results—with minimal surprises.
As regulatory scrutiny intensifies and liability concerns mount, it’s more important than ever that financial institution audit committees are highly engaged.
Here is what boards need to know about fair lending compliance and future rule changes.
David Ruffin and Randal Rabe describe how to assess a qualitative and environmental adjustment for ALLL.
FASB has announced changes to U.S. generally accepted accounting principles that will apply across the board.
A CPA and chairman of the audit committee of First Virginia Community Bank in Fairfax explains what audit committees need to know about communications with external auditors.