Regulatory revisions make corporate goverance top priority
IMPLEMENTATION OUTLOOK
NEW YORK -- Corporate governance, as an operational risk subject, is rapidly increasing in importance thanks to both the revisions to the Basel Accords and the US Sarbanes-Oxley law. Going forward, senior executives and board members at financial institutions will have to sign off on their firm's accounts -- making sure they have the correct information at their disposal, and that they feel comfortable with those accounts is itself an operational issue. The penalty for mis-stating the accounts
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