BSA/AML and OFAC risk assessment: Best practices for financial organizations
BSA/AML and OFAC risk assessments can help alleviate concerns for financial organizations. Develop a strategy for BSA/AML and OFAC compliance.
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U.S. GDP declines by 1.4%: This is what an overheating economy looks like
Growth in the first three months of the year contracted at 1.4% pace as Americans turned to imports to meet torrid demand that is simply unsustainable.
Pending home sales fell back to pre-pandemic level amid rising rates
pending home sales fell 1.2% in March, declining for the fifth month in a row, as demand continued to slow due to high prices and rising mortgage rates.
Chart of the day: Industrial production hits record in March
Domestic industrial production increased by 0.9% in March, beating market forecasts despite global supply chain disruptions of key materials.
The tax and trade implications of new legislation targeting Russia
A new law suspends Russia’s preferential trade status, and a separate proposal would deny foreign tax credits and certain deductions for U.S. companies earning income in Russia.
SAS 136: The communication of reportable findings
SAS 136 includes requirements to communicate reportable findings identified as a result of testing relevant plan provisions.
RSM US Middle Market Business Index
The omicron variant and rising prices have taken a toll on overall economic activity and consumer confidence over the past three months.
SAS 136: The ERISA Section 103(a)(3)(C) audit election
Plan administrators should consider all implications of an ERISA Section 103(a)(3)(C) election before the election is made.
Updated practice aid: Accounting for digital assets
The AICPA Digital Assets Working Group has updated a practice aid regarding the accounting for and auditing of digital assets.
Navigating the uncertain fates of Build Back Better and key tax issues
Uncertainty about significant tax changes proposed in the Build Back Better bill require attention and action from taxpayers.
Family office dream team
An effective family office requires the right mix of internal and external capabilities to balance best-in-cost with best-in-class.
New third-party risk guidelines mean big changes for many institutions
Understand the difference between Fed and OCC guidance around third-party risk management. Combined federal guidance is coming.
Senate Finance releases Build Back Better text
Senate Finance Committee Build Back Better language largely leaves House Bill unchanged. SALT language omitted as well as billionaires’ tax.
The Real Economy: December 2021
Nearly two years into the pandemic, there are signs that the worst of a once-in-a-century shock to the global economy is beginning to fade.
IRS releases guidance on Q4 removal of employee retention credit
Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021.
Fintech as a movement: The evolution of traditional financial services
The fintech movement is an evolutionary business model that is occurring today in the financial services industry