Bank Accounting & Finance articles from April 2004

Bank Accounting & Finance archives from April 2004

Unmasking IT fraud: practical applications of SAS-99.
April 1, 2004... Heightened concerns about fraud require that financial executives proactively identify risks of material misstatement due to fraud. Even without the materiality threshold, most enterprises aggressively seek to minimize the occurrence of fraud...

Consolidation resumes, again among larger banks.
April 1, 2004... Bank merger activity, after peaking in 1998, decelerated during the next four years. The pace quickened again in 2003 and that trend seems to be continuing into 2004. In this article, we'll try to identify the factors that caused the slowdown...

Basel I and the law of unintended consequences.(banking regulation)
April 1, 2004... Public policy regulation is almost always beset with unanticipated consequences. The Bank for International Settlements' (BIS) 1988 Basel Accord (the accord), lauded for promoting new standards of international bank safety and capital adequacy,...

Update on accounting issues.(Accounting Roundup)
April 1, 2004... A number of accounting issues, some issued and some pending, are of importance to financial institutions. This article will provide an overview of the new guidance and some pending accounting projects. Many of these are works in progress and...

Trust-preferred securities: FIN-46 threatens Tier 1 capital treatment.(Capital Requirements)
April 1, 2004... Trust-preferred securities (TPS) have enjoyed incredible popularity among bank holding companies (BHCs) in recent years. It has been estimated that more than $70 billion in Tier 1 capital has come into the banking industry in the form of TPS...

Accounting oversight board proposes auditing guidance and makes inspections rules.(Auditing)
April 1, 2004... The Public Company Accounting Oversight Board (PCAOB) recently proposed several new auditing standards that will become required practice for independent auditors engaged in the audit of public companies. The PCAOB also made final rules about...

No attribution of capital to branches of foreign banks.(Tax News)
April 1, 2004... On November 14, 2003, the US Court of Federal Claims (Court of Claims) held that the amount of interest that is properly deductible by a US branch of a foreign bank should be determined in accordance with its properly maintained books of...

Four FASB exposure drafts increase convergence with international standards.(International Standards; Financial Accounting Standards Board)
April 1, 2004... In June 2002, the European Union approved a regulation that will require all EU-listed companies to prepare consolidated financial statements in accordance with International Financial Reporting Standards (IFPSs). (1) The regulation applies to...