• OCC standards require strict oversight of third-party relationships

    It’s no longer enough for banks and other financial institutions to simply have good working relationships with the third parties that provide IT and other services. New, stricter standards and increased scrutiny by the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB), as well as the Federal Deposit Insurance Corporation (FDIC) and the Federal Financial Institutions Examination Council (FFIEC), mean financial institutions now have the same responsibilities for in-house and out-of-house services.
  • Transforming Internal Audit

    In a recent Baker Tilly and ACUA webinar, Ashley Deihr, senior manager, and University of Kansas’s John Curran, university director of internal audit, discussed creative approaches to resource allocation and shared how data analytics can be used to maximize audit coverage and efficiency.
  • Leases ASU issued by the FASB

    The Financial Accounting Standards Board (FASB) issued its long awaited Accounting Standard Update on accounting for Leases. This marks the completion of one of the last convergence projects the FASB took up with the International Accounting Standards Board (IASB).