Banking


The Office of the Comptroller of the Currency (OCC) reports that U.S. commercial banks boosted their derivatives holdings to $51.3 trillion in the third quarter of 2001—an increase of $3.5 trillion over the previous three months. This continued an upward trend that began after the third quarter of 2000. The OCC says in last year’s third quarter banks’ credit-risk exposure fell by $583 billion because they used derivatives to offset the risk of default on loans they made. ( www.occ.treas.gov/ftp/release/2001-99.doc )

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Building client loyalty with payroll services

In this report, CPA experts detail their tactics for performing successful payroll services, how to mitigate risk in the process, and the impact payroll can have as a value-added service.

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Using drones to enhance audits

Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories.