Restructure or die

Article Abstract:

The international retail banking industry is amid a serious crisis. A 1995 Deloitte & Touche study concludes that the industry will not survive if it does not undergo a fundamental restructuring that reflects technological innovations. The report, titled 'The Future of Retail Banking: a Global Perspective,' predicts that this will result in massive branch closures and downsizing. About 9,000 bank branches are expected to close in the UK alone, an estimate that commentators believe is quite conservative. The global retail banking environment is being increasingly transformed by such developments as intensifying industry consolidation and growing competition from non-bank financial services providers. The monolithic banks will survive in this new marketplace, but they must know where their competitive edge lies and what their core businesses are.

Commercial Banking, Retail Banking Services, Management, Retail banking, Forecasts and trends, International banking

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Auditing banks - is it worth the risk?

Article Abstract:

Appropriate specialist methods should be applied when undertaking bank audits based on an understanding of the bank's risk-taking nature and its differentiating factors with regards to non-financial enterprises. An auditor must understand the systems monitoring and regulating cash flow in a bank, bank liquidity management, the large volume of banking transactions, and the complex structure and purpose of the various transactions. Banks are also differentiated from non-financial businesses in the extent to which the industry is regulated and supervised by the government.

Commercial banks, not elsewhere classified, Laws, regulations and rules, Accounting and auditing, Auditing, Practice, Accountants

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