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Project Blue: ASSESSING THE FUTURE TRENDS FOR FINANCIAL SERVICES

Week 1: August 12th, 2017   Financial services is set for transformation as its role, industry structure and commercial realities are disrupted by the major trends reshaping the global economy and competitive landscape. Financial…

IFRS 9’s ESSENTIALS: CHANGES, IMPLEMENTATION TIMELINE, SUCCESS FACTORS

CHANGES The new standard contains substantial changes from the current financial instruments standard (IAS 39) with regards to the classification, measurement, impairment and hedge accounting requirements which will impact many entities across…
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Largest lawsuit against an auditor goes to court for $5.5 billion

The largest-ever lawsuit against an auditing firm was happened in 2013,  in a Miami-Dade County Circuit Court, pitting Big Four firm PwC against a trustee of the defunct Taylor, Bean & Whitaker Mortgage Corporation.   At stake:…
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BUILDING TRUST AND COMPETITIVENESS IN FINANCIAL SERVICES

The success of business in financial services very dependent on the trust given by its stakeholders, especially customers. Therefore, most of the activities in financial services are directed toward maintaining and restoring trust.   To…
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THE IMPORTANCE OF TRUST IN FINANCIAL SERVICES

As all of us aware, the main factor of success in financial services industry is trust, therefore the biggest business challenges currently facing financial services is how to restore and maintain trust. The biggest asset of any bank is the…
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GLOBAL FINANCIAL CRISIS

As a Professional Financial Services Auditor, you should be aware of phenomena in the financial industry that led to the global financial crisis, such as: 1. Aggressive pursuit of revenue 2. Excessive leverage 3. Insufficient capital 4.…

Top 3 Types of Fraud That Mostly Happen in Financial Sector

Based on the survey that Pricewaterhouse Coopers held in 2014, around half of the FS respondents who have experienced economic crime during the survey period report an increase in the number of occurrences and the financial value of economic…