- The National Credit Union Administration (NCUA) has proposed five new rules that, if enacted as written, have the potential to significantly change the commercial lending playing field for both credit unions and banks.
- Baker Till's investigation revealed that the contractor provided significant discounts on the overall project without any detailed explanation or documentation.
- Overall, the 2015 Working Group memo indicated that the depth and breadth of the content of the ORSA reports varied significantly from company to company, and that the ORSA reports of life insurers generally demonstrated more mature ERM and capital management frameworks than those of property-casualty and health insurers.
- The National Association of Insurance Commissioners (NAIC) recently held its Summer 2015 National Meeting. There are several relevant items and future changes for insurance organizations to be aware of and to watch for from the Statutory Accounting Principles Working Group, Blanks Working Group, Investment Classification Project, and Investment Risk Based Capital Working Group.
- Baker Tilly’s investigation led to the discovery of underreporting of taxable income and underpayments of taxes.
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