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.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
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.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1991
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Poacher turns gamekeeper. Not fit for the task? Nordic paradox
- Abstracts: Disclosure compliance with national accounting standards by listed companies in South Asia. Earnings management of distressed firms during debt renegotiation
- Abstracts: An essential role for Akt1 in dendritic cell function and tumor immunotherapy. Silencing of SOCS1 enhances antigen presentation by dendritic cells and antigen-specific anti-tumor immunity
- Abstracts: Cultural capital and accounting. Completing the triangle: Taylorism and the paradigms. Theoretical perspectives on accounting for labor on slave plantations of the USA and British West Indies
- Abstracts: Actual share reacquisitions in open-market repurchase programs. The cash flow sensitivity of cash