Archive for September, 2014

Financial institutions must prepare for updated customer-contract revenue requirements

The FASB and IASB recently issued jointly converged standards for revenue recognition, the implications for which include adjustments that will need to be made by many credit unions and community banks.

Fraud examiner survey reveals proper assessment and controls are essential to mitigating risk

Fraud risk is a real and ever-present concern for a range of industries, no matter the nature of the business or products in question.

ISACA celebrating 45 years

The Information Systems Audit and Control Association (ISACA) is celebrating its 45th anniversary in 2014, a milestone that puts into perspective the strides the group has made in terms of its own growth, but also in providing industry leadership.

FASB looking to improve revenue reporting standards

In an effort to improve revenue recognition, the Financial Accounting Standards Board and International Accounting Standards Board recently released converged guidance for contracts with customers.