Banking


The Treasury Department’s Office of Thrift Supervision (OTS) advises savings associations to consult it before they consider transferring to an external entity their high-risk assets—such as nonperforming loans—when the bank retains significant credit risk related to those assets and simultaneously provides considerable funding to the receiving entity ( www.ots.treas.gov/docs/25156.pdf ). In order to remove troublesome assets from their balance sheets, the watchdog agency says, some banks have executed such transactions and inappropriately accounted for them as sales.

SPONSORED REPORT

Tax reform changes are now in effect

With all the recent tax law changes, this year it’s more important than ever to make sure your clients’ tax situations are squared away before year end. This report provides necessary guidance to ensure 2019 starts without a hitch.

PODCAST

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.