- External bank auditors have new guidance from the Basel Committee on Banking Supervision as of March 31, and banks should understand the updated guidelines before their next audit. The new guidelines, 46 pages in all, replace The Relationship Between Banking Supervisors and Banks' External Auditors, published in 2002, and External Audit Quality and Banking Supervision, from 2008.
- Credit unions such as yours are facing intensive competition. Traditional and non-traditional financial providers are leveraging a trio of technologies to redefine their offerings and provide a consistent interactive user experience for their customers.
- Foreign financial institutions should become FATCA compliant as soon as possible to avoid penalties.
- As a result of this effort, fewer accounting department and consulting resources were required to manage the manual data collection.
- On April 2, 2014 the Federal Financial Institutions Examination Council (FFIEC) released a statement related to Distributed Denial of Service (DDoS) attacks on public facing websites. The statement highlights that DDoS attacks have increased since late 2012 and, in many cases, have been executed by politically motivated groups.
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