Insights: Financial Institutions
Contingency Funding Plans: What to Expect from Examiners
With liquidity remaining a regulatory hot button, many examiners are taking a harder look at the areas of Contingency Funding Plans (CFPs) and the stress testing of those plans. This article discusses the key elements that go into developing an effective CFP along with some of the more common exam findings in this area. The…
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For best results, start your strategic planning early
Time flies when you’re having fun — and running a business. Although it’s probably too early to start chilling a bottle of bubbly for New Year’s Eve, it’s certainly not too early for business owners to start doing some strategic planning for next year. Here are some ways to get started. Begin with your financials…
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What type of expenses can’t be written off by your business?
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. It doesn’t explicitly state that you can deduct office supplies and certain other expenses. Some expenses are detailed in the tax code, but the general rule is contained in…
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Equifax Data Breach Impacts Financial Institutions
Natalie Luppold CPA, CISA, CITP On July 29, 2017, Equifax discovered suspicious network traffic. After an investigation, Equifax determined that a website application vulnerability granted unauthorized access to sensitive data from May 13 through July 30. On September 7, 2017, Equifax publically announced the breach of 143 million Americans’ personally identifiable customer information through a…
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