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Preparing for the Economic Risks That Come Next

Matt Kelly | August 24, 2015

Well, are we all now suitably unnerved at the economic prospects bearing down on us?

At the time I am writing this column Monday afternoon, Wall Street was recovering from its flash crash earlier in the day of nearly 1,100 points, to a much more comfortable fall of “only” 200 points on the Dow Jones Industrial average. Not to be confused with the 531-point drop last Friday, or the 358-point drop the day before, or the 163-point drop the day before that. We won’t even bother looking at the meltdown on Chinese stock markets that started all this; the numbers there were surreal going up, and they are just the same coming down.

This is one of those rare moments when macro-economic forces causing headlines around the world do actually carry lessons for compliance and audit professionals trying to do your jobs every day. Since Washington remains on summer vacation for at least another two weeks anyway, let’s take a look.

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