Bank Accounting & Finance articles from April 2003

Bank Accounting & Finance archives from April 2003

Risk management in the era of anxiety.
April 1, 2003... In an era of free-floating anxiety, smoking is up, drunk driving is up, and duct tape is flying off the shelves. For financial institutions as well as for individuals, risks today seem harder to describe, to measure, to manage. Two...

Business combinations and intangible assets applied to financial institutions.
April 1, 2003... The Financial Accounting Standards Board (FASB) announced its intention to eliminate the pooling-of-interests method of accounting for business combinations on April 21, 1999. On June 30, 2001, the FASB followed up on its promise with the...

Managing in an era of emerging financial risks.
April 1, 2003... The management of emerging risks differs in fundamental ways from the discipline of financial risk management as traditionally conceived. The purpose of this article is to specify the differences, to emphasize that the shift toward a focus on...

Capital charge for operational risk moves toward implementation.(Risk Management)
April 1, 2003... One of the most significant elements of the New Basel Capital Accord (new accord, or Basel II) under development by the Basel Committee on Banking Supervision (the Basel Committee) is the addition of a capital charge for operational risk. This...

Consideration of fraud in a financial statement audit.(Auditing)
April 1, 2003... The Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) issued Statement of Auditing Standards (SAS) No. 99, "The Consideration of Fraud in a Financial Statement Audit," to supersede SAS No. 82, "The...

New rules on independence, workpaper retention, and disclosure under Sarbanes-Oxley.(SEC Update)
April 1, 2003... The Securities and Exchange Commission (SEC) issued final rules pertaining to auditor independence, workpaper retention, and disclosure of off-balance-sheet arrangements and aggregate contractual obligations as required under the Sarbanes-Oxley...

Notice of blackout periods to participants and beneficiaries.(Regulatory Outlook)
April 1, 2003... The Sarbanes-Oxley Act (SOA) was enacted on July 30, 2002, to address several issues of corporate responsibility, including the inequity suffered by corporate employees who were unable to sell stock from their pension plans during blackout...