Banking Rules May Not Be Doing Their Job on National Security

One look at the headlines, and it is easy to see that the Trump administration’s deregulation efforts continue to shift into high gear. The nation’s largest banks are taking notice, and with the publication of a comprehensive report in late February, have added the AML and CFT regulatory framework into the discussion. MBAF’s Adam Ingles discusses the latest banking regulations on The Hill.

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How Auditors Assess a Borrower’s Financial Viability

A CPA evaluates the going concern assumption during a financial statement audit to get a picture of a company’s financial health and viability going forward. This article describes a few items they look for during that assessment, including potential red flags like pending lawsuits and investigations, working capital deficiencies, negative operating cash flow, the loss of a major customer or franchise, loan defaults and debt restructurings. The article notes that audit opinions can offer important clues as to whether companies will continue to operate as going concerns.

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Take Stock of Inventory

A small business’s ability to track inventory and minimize errors, omissions, and fraud depends on the existence of a robust inventory reporting and tracking system. This article defines several general elements an inventory tracking system needs to include, whether it’s manual or computerized, including inventory requisitions, receiving reports, and an inventory ledger. The article also suggests that the determination of whether an inventory system is effective may require occasional site visits and interviews with owners and managers.

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