The Office of the Comptroller of the Currency issues Bulletin 2002-39, Investment Portfolio Credit Risks: Safekeeping Arrangements ( ), alerting national banks to potentially significant credit risks inherent in custody relationships involving their own assets. Recently, several financial institutions suffered losses when deposit brokers (entities that broker, among other things, certificates of deposit), to which they had sent funds for the purchase and safekeeping of CDs, failed. The OCC guidance consequently emphasizes the risks of entrusting assets to even registered broker/dealers and the importance of reviewing their credit histories, and it outlines steps banks can take to see that FDIC insurance covers their purchased CDs.


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Tips for first-year auditors

For a new auditor, the first busy season can be an exciting time and a fantastic opportunity for professional growth. Here are suggestions for new auditors and those who nurture their development.