Main stock indexes in Britain, France, Germany, Hong Kong and Japan dropped today after Barcelona and Cambrils, Spain, experienced terrorist attacks. The situation contrasts with earlier in the year when investors seemed to shrug off political risk.
Because the loans might be recharacterized as compensation, which can trigger unexpected income and payroll taxes for the doctor, care must be taken to ensure the loans are bona fide debt.
"Sadly, some internal auditors fear that auditing high-risk areas will not resonate well with executive management," writes IIA President and CEO Richard Chambers. "A brief examination of this avoidance game quickly reveals the fallacy that sidestepping controversy will keep management happy or the organization out of trouble."
Household debt reached $12.84 trillion in the second quarter, $552 billion more than the amount in Q2 of 2016, according to the Federal Reserve Bank of New York. The New York Fed says credit card delinquency "ticked up notably," though the proportion of debt that was delinquent was similar to that of Q1.
- Page 1