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Pinion Editorial

Mastering ICFR Audits: A Guide for Banks with Over $1 Billion in Assets

By Pinion Editorial | September 9, 2024
Reading Time: 3 minutes
Internal Control over Financial Reporting (ICFR) audits are a cornerstone of financial accountability, especially for banks with over $1 billion in assets. The Sarbanes-Oxley Act (SOX) mandates that public companies, including large banks, maintain robust internal controls and undergo ICFR audits to ensure the accuracy and reliability of their financial …

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Off-Balance Sheet Credit Exposure Liability Under (ASC) 326

By Pinion Editorial | September 9, 2024
Reading Time: 2 minutes
Since the effective date of ASC 326 (CECL), we’ve been asked several questions regarding the need for a separate liability for off-balance sheet (OBS) credit exposures, or an “unfunded commitments liability”. Several factors should be considered when determining if this is necessary for your financial institution. Here are three essential …

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USDA Deadline Announced for Emergency Relief Program and FSA-510 Filing

By Pinion Editorial | July 30, 2024
Reading Time: < 1 minute
The U.S. Department of Agriculture recently announced August 14, 2024, as the deadline for commodity and specialty crop producers that suffered losses as a result of a 2022 natural disaster to apply for the Emergency Relief Program (ERP). An estimated $3.2 billion in funding was allocated by Congress to cover …

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Decrypting Pig Butchering Scams in the Financial Sector:

By Pinion Editorial | July 25, 2024
Reading Time: 3 minutes
The term ‘pig butchering’ may seem out of place in finance, but it aptly describes a new type of cryptocurrency scam that blends social engineering with investment fraud. Much like fattening up a pig before slaughter, scammers build a relationship with their target over time before convincing them to invest …

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Beyond $500 Million: A Guide to FDICIA Compliance for Banks

By Pinion Editorial | July 25, 2024
Reading Time: 4 minutes
Is your financial institution nearing the $500 million asset threshold? If so, you’ll need to navigate new regulations, particularly those mandated by the Federal Deposit Insurance Corporation Improvement Act (FDICIA).   Regardless of what is driving your growth, crafting a robust plan for FDICIA compliance is essential. Pinion advisors have outlined …

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