- Prior to the closing of the deal, certain outside directors were indicted by the US government and charged with numerous counts of fraud, misappropriation of assets, and obstruction of justice, as well as other charges related to business dealings outside of the bank. Baker Tilly was engaged to help determine the degree of involvement and influence the subject directors may have had on the bank’s operations and financial condition.
- On April 1, 2015, the Financial Accounting Standards Board (FASB) voted to propose a one-year deferral of the effective date of the new revenue recognition standard, Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606), for both public and private entities.
- How housing is financed has changed significantly in the seven years since the mortgage crisis, from tighter regulation and increased oversight to shifts in housing needs and our country’s cultural dynamics. What role do banks, local not-for-profits, and individuals play in the ever evolving mortgage and housing markets?
- Recent communications by the Federal Reserve Board Federal Open Market Committee (FOMC) have set the stage for increases in interest rates in mid to late 2015. As the domestic economy continues to demonstrate fundamental signs of a sustained recovery, including modest price increases and wage gains, few have challenged the merit of increasing interest rates in the near term.
- On Jan. 29, 2015, Delaware enacted SB 11 that will act to improve fundamental fairness and transparency of the state’s unclaimed property program.
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