- The AICPA recently issued an update to the Trust Services Principles impacting SOC 2.
- Recent ruling affects how Illinois businesses allocate local sales tax.
- Is your financial institution Regulation O compliant? How transparent are transactions among insiders of your financial institution? Insider abuse can be difficult to detect and cannot only lead to substantial FDIC penalties but will increase the reputation risk of your financial institution.
- Business continuity planning can seem overwhelming when you first think about all you need to cover. Use this overview checklist to assist your organization in preparing for its planning process.
- Too many banks prepare a business continuity/disaster recovery plan that collects dust on a shelf or ignores critical components. Plans aren’t tested or updated. They fail to plan for certain contingencies, such as a CEO who’s unavailable when disaster strikes. Federal and state agencies require a written business continuity and disaster recover plan. Smart business requires something more: a thorough plan that takes every contingency into account and is tested and updated regularly.
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