Banking


 

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In a joint statement bank and thrift regulators say they do not expect to apply Sarbanes-Oxley Act corporate governance requirements to nonpublic banking organizations not otherwise subject to similar stipulations ( www.federalreserve.gov/boarddocs/srletters/2003/sr0308a1.pdf ). The Federal Reserve Board, the Office of the Comptroller of the Currency and the Office of Thrift Supervision nevertheless encourage such entities to periodically review their corporate governance and auditing policies and procedures for consistency with applicable law, regulations and supervisory guidance and for their appropriateness to each organization’s size, operations and resources. According to the regulators, such banking organizations include national banks, state banks that are Federal Reserve members, savings associations and bank and savings-and-loan holding companies.

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.