Abrigo
JULY 28, 2015
The demand for business valuations continues to grow with the improvement of the economy and the rise of baby boomer retirement. Performing high quality valuations has become more important than ever before to meet client expectations and compete in the industry. To reach the true value of a company, one must have a comprehensive understanding of each factor that goes into the calculation.
Abrigo
JULY 23, 2015
While banks under $10 billion in assets aren’t technically required to stress test, recent data suggests the practice is becoming the norm. According to the Sageworks 2015 Bank and Credit Union Exam Survey , more than 40 percent of the 180 responding institutions had already begun stress testing, and it was recommended to 30 percent that they begin stress testing or expand current stress test practices.
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Abrigo
JULY 30, 2015
Banking industry experts expect the FASB’s long-discussed move to the Current Expected Credit Loss (CECL) model will be finalized by the end of the year, but many bank and credit union professionals may be finding that, as Tom Petty once sang, “The waiting is the hardest part.”. Waiting for clarity on the final standard is difficult, because financial institutions are anxious to determine how the transition from an incurred-loss model will affect the allowance for loan and lease losses (ALLL) an
Abrigo
JULY 29, 2015
In its semiannual report last month, the Office of the Comptroller of the Currency (OCC) noted that the banking industry has loosened its standards for underwriting loans, bolstering the credit risk for financial institutions. While an increase in risk might be a red flag to the regulatory agencies, the reason many banks, particularly smaller institutions, have lowered their underwriting standards for auto, home or commercial real estate loans is simply to be able to compete in the changing indu
Abrigo
JULY 28, 2015
By definition, analytical procedures is a process of analytically detecting ways to decrease time and increase efficiency. This process can appear daunting at times because of the numerous comparisons of financial information that must be made when working on a client’s statements. The overall goal for an auditor is to identify unusual or unexpected balances as well as areas of discrepancy that could jeopardize the o the financial health of a client.
Abrigo
JULY 21, 2015
Business valuations are one of the fastest-growing services offered by accountants. With a projected growth of nearly three percent each year through 2019, the industry is truly thriving. Much of the demand comes from the shift in business owner demographics as our nation’s baby boomers reach retirement age and step onto the path of valuing and selling their companies.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Abrigo
JULY 14, 2015
Companies across the globe ask themselves the same question: Is adopting new technology worth it? As you can imagine, this question is not new. Businesses of the past have debated whether or not they should install telephones to connect to customers more easily, use refrigeration to extend shelf life of products, and so much more. Perhaps the key difference between 20th century technology decisions and 21st decisions is the abundance of technology change that is occurring on a regular basis now.
Abrigo
JULY 13, 2015
Industry, especially the financial industry, has become packed with insightful and time saving technologies. In a recent Sageworks webinar, 60 percent of attendees said that one of their main road blocks to adopting new technology at their firm was their unfamiliarity with potential solutions. In today’s blog I will map out technologies that can help you leverage client relationships, growth through market expansion and cost reduction.
Abrigo
JULY 10, 2015
Compliance is often a loaded word for bankers. While regulations within the banking industry are, of course, a necessity, the ongoing conversation about striking a balance between mitigating risk and overregulation continues in government, media and financial institutions themselves. By nature, a bank is set up to withstand some risk. Some auto loans will go belly-up when a customer loses his or her job.
Abrigo
JULY 9, 2015
On June 30th, the OCC released its Semiannual Risk Perspective for Spring 2015. The report, based on data through the end of 2014, discusses risks facing national banks and federal savings associations, and focuses on issues that pose threats to the safety and soundness of those OCC-regulated institutions. According to the report , the financial performance of federally-chartered banks was slightly lower in 2014 compared to 2013 as a result of lower profitability.
Abrigo
JULY 8, 2015
Remember the days of the rolodex on your desk? Well, even if you don’t, you probably realize that with today’s digital technology, the rolodex is pretty much extinct. Today, Outlook or Gmail contacts, your phone’s address book and LinkedIn have replaced the reams of paper we once used. You might be wondering how to use all these systems efficiently.
Abrigo
JULY 7, 2015
The message of accounting firms has remained relatively the same over the past decade. Offers of insight and ways to generate business growth and increase effectiveness have flooded the market. Though the message has stayed constant, technological improvements have opened the door for firms to reach beyond the borders of geographical regions and time zones.
Abrigo
JULY 1, 2015
With increased scrutiny surrounding a financial institution’s ALLL calculation, many are asking how they improve their process and make it more comprehensive. Of course there isn’t any one answer to this question, and the direction can vary based on an institution’s starting point. A segmentation strategy, though, is a great place to start to nail down an effective and efficient process – not only will it serve a substantial purpose for the ALLL, but also as a larger risk management tool.
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