THIS PROFESSION IS NEVER BORING….Now IT IS BASEL III
June 26, 2012
One thing I can say, after practicing public accounting for 34 years now, is this stuff is never boring. It is always changing and challenging, even too challenging sometimes. I tell students this every year during recruiting events. How about giving a person a break every now and then. The banking regulators have just done a major overhaul of the capital rules and it affects all banks of ANY size. Basel III changes the capital definitions, it changes the risk asset classes, and it phases in over multiple years; there are just a myriad of changes that have profound effects on the banking industry going forward. Looks like our banking partners will have plenty to do to understand this and help our clients assess the effects it will have on their particular bank. Like I said it is never boring in public accounting, especially in serving the community banking world.