Professional services firm PricewaterhouseCoopers (PwC) says time is running out for energy and utility companies to get to grips with the pending implementation of the International Financial Reporting Standards (IFRS).
Energy companies are not alone in having to review their operations to comply with the Sarbanes-Oxley Act. Energy software suppliers, too, are looking at their systems, although most are confident they are already well prepared, finds Clive Davidson
Corporate Governance Survey 2003, Part 2 >>Corporate governance disclosure: banks focus on bolstering infrastructure
In the second part of Operational Risk's review of 15 bank annual reports for 2002, the editors look at how firms have chosen to address the hot button issues of corporate governance, reputational risk and legal risk. Again, practices vary widely among...
NEW YORK – Mutual funds may have to make more technology implementations if legislation introduced by the US House of Representatives' financial services committee becomes law. The bill, proposed last month, is intended to improve mutual funds' disclosure,...
A new report from the Basel Committee on Banking Supervision says that, overall, banks are improving their disclosure of credit, market, operational and other risks in their annual reports.
HONG KONG - Sixty percent of respondents to a recent PriceWaterhouseCoopers (PwC) study indicated that trust in financial institutions had been eroded globally.
"At this early stage, the results suggest that the incentives built into the New Accord are functioning as we had hoped," said William McDonough, president of the Federal Reserve Bank of New York and the head of the Basel Committee on Banking Supervision...
Continental European countries are increasing their focus on corporate governance issues.
The International Accounting Standards Board (IASB), the global accounting rules organisation based in London, released information on proposed changes to its risk disclosure standards in International Accounting Standard 32 (IAS 32) in December, after...
ORLANDO, FLORIDA - The Basel II capital accord will have profound implications for risk management techniques and capital management in the larger US banks, a leading US banking regulator said in late October.
Much has been written on the proposed changes to the Basel Accord (Basel II), and we have been surprised that the vast majority of both academic and practitioner literature focuses on the prescriptive regulatory approaches and formulas to calculate minimum...
The Enron debacle has spurred investors and creditors to press for greater disclosure of corporate risk and hedging strategies. Companies are beginning to respond. How far will it go?
Mass financial shocks – including Enron and Argentina – are forcing banks to disclose more information, faster, about their credit exposures to satisfy skittish investors. How are banks' technology infrastructures coping with this challenge?
Operational risk is devilishly difficult to model, but dealers and software vendors are making headway. Automated op risk reporting, profiling and sophisticated operational value-at-risk (VAR) modelling are finally beginning to catch-on in banks.
Integrated, enterprise-wide, operational risk management can offer much more than just regulatory compliance.
The Basel regulators' proposals for operational risk aren't as risk-sensitive as the committee seems to think, says Tony Blunden. He argues the supervisors should pay more attention to recent developments in corporate governance.
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