The Consumer Financial Protection Bureau (CFPB) finalized the long-awaited small business lending rule on March 30, 2023. The rule implements section 1071 of the Dodd-Frank Act, which amends the Equal…
Set Your Organization up for a Painless (and Insightful) Audit with these Five Preparation Tips
An audit doesn’t have be something to dread. In fact, this annual compliance ritual can yield important financial insights and opportunities for improvement – if the organization invests the time…
NCUA 2022 Capital Adequacy Standards: Find Out if Your Credit Union is Affected by the New Rule
Since January 1, 2022, credit unions with total assets of $50 million and above must follow different expectations and frameworks when calculating capital ratios. The new capital adequacy standards from…
New Lease Accounting Rules: Prepare Now for Smoother Year-End Adoption
The highly anticipated new lease accounting standard will take effect for most private companies at the end of 2022 (fiscal years beginning after December 15, 2021), six years and two…
Someone Asked My Organization for a SOC Report – What Should I Do Next?
For organizations unfamiliar with a System and Organization Control (SOC) report, this request can be perplexing. First, it is important to understand what a SOC report is and why your…
