Accounting standard setters are considering the wider use of fair value accounting. This paper focuses on the financial stability implications of a move in the banking sector from the current accounting framework to full fair value accounting. A simulation exercise is performed on how various...

This paper presents Detailed Assessment of the United States’s implementation of the International Organization of Securities Commissions’ Objectives and Principles of Securities Regulation. The general preconditions for effective securities regulation in the United States are...

In this paper, we use a logit model to predict the probability of default for Korean shipping companies. We explore numerous financial ratios to find predictors of a shipping firm's failure and construct four default prediction models. The results suggest that a model with industry specific...

In this paper, we use a logit model to predict the probability of default for Korean shipping companies. We explore numerous financial ratios to find predictors of a shipping firm’s failure and construct four default prediction models. The results suggest that a model with industry specific...

Accounting scandals exploded at the beginning of 2000s and the collapse of Arthur Andersen highlighted the importance of implementing engagement risk management strategies in audit firms. Engagement risk refers the overall risk associated with an audit engagement and it consists of three...

Internal audit has become an essential component in the structure of a modern company, providing greater efficiency through a more adequate human and material resources and a better coordination between different departments of a company. Ensuring that the company meets the standards of...

The framework for insurance and reinsurance now in use needs updating. The proposal for a new solvency framework, called Solvency II, is introducing a risk- sensitive approach, taking into account optimal allocation of capital market, consistent valuation of assets and liabilities ("fair value"...

Risk in the sense of potential negative outcome is inherent to managerial action. In the lastdecade, an increasing focus has been put in theory as well as practice on the conceptual designof risk management and risk controlling systems, even though no clear concept exists up tonow on how a risk...

Das Risiko einer negativen Zielabweichung ist zwangsläufig mit jeder unternehmerischen Entscheidung verbunden. Seit Erlass des Gesetzes zur kontrolle und Transparenz im Unternehmensbereich (KonTraG) im Jahr 1998 hat sich die betriebswirtschaftliche Theorie und Praxis in Deutschladn intensiv mit...

The main objective of this research is to analyse the relationship between the board of director' structure of the banks from the Romanian bank sector, the capital demands and the risk management in what concerns these relationships. Regarding the structure of the board of directors, their size...