Bank Accounting & Finance articles from February 2007

Bank Accounting & Finance archives from February 2007

Technology risk assessment and mitigation: recent best practices: frameworks for identifying information-technology risks and cost effectively controlling them.
February 1, 2007... In recent years, the need to cost effectively assess and mitigate technology risks has only increased. Day by day, operational risk managers face new challenges as they choose methods to perform risk assessments, reveal vulnerabilities, assess...

Compliance costs in the second year of Sarbanes-Oxley: the evidence from bank audit fees: in general, audit fees did not decline in the second year of SOA compliance for small-market-capitalization regional banks.(Law overview)
February 1, 2007... The Sarbanes-Oxley Act of 2002 ("SOA") mandated that the Securities and Exchange Commission (SEC) issue rules to implement expanded disclosures about registrants' internal controls. Final rules became effective on August 14, 2003. (1) The...

Basel II and IA: an update: an overview of capital proposals over the past year.(Law overview)
February 1, 2007... For aficionados of bank capital issues, 2006 has been a rich year and promises fertile ground for further discussion and analysis in 2007. As this issue is published, the comment periods on the proposed U.S. rules for Basel II and Basel IA...

Reg AB is here to stay: what does this mean for servicers? New rules cover the full range of servicing responsibilities.(Asset-Backed Finance)(Law overview)
February 1, 2007... The Securities and Exchange Commission (SEC) issued final rules for the asset-backed securities (ABS) industry on December 22, 2004, (1) entitled Regulation AB ("Reg AB"), which became effective on January 1, 2006. Reg AB is a set of newly...

Enterprise risk management and controls-monitoring automation can reduce compliance costs: a framework to reduce risk and compliance costs.(Risk Management)
February 1, 2007... Few would disagree that financial services is one of the most heavily regulated and risk-conscious industries. Banks and other financial institutions must continually enhance their risk management strategies to keep up with the changing...

Three new standards to be implemented in 2007: income taxes and asset servicing are among topics of new standards.(FASB Preview)(Financial Accounting Standards Board )(Law overview)
February 1, 2007... Over the past four years the Financial Accounting Standards Board (FASB) has issued 16 statements of financial accounting standards (SFAS) and five financial interpretations (FIN). These standards have varied in complexity from hedge accounting...

FASB issues new statement on fair-value measurements: FAS-157 clarifies the definition of fair value and the methods used to measure it.(FASB and the EITF)(Financial Accounting Standards Board)(Emerging Issues Task Force )(Law overview)
February 1, 2007... The Financial Accounting Standards Board (FASB) recently issued Statement of Financial Accounting Standards No. 157 (FAS-157), Fair Value Measurements, to (1) define fair value, (2) establish a framework for measuring fair value in generally...

Passive vs. active compliance: active compliance mitigates cost, improves business and reduces risk.(Technology Strategies)
February 1, 2007... Challenges presented by today's compliance requirements can be attacked in a variety of ways, ranging across a spectrum from minimal effort and passive reporting to the active control of high-risk business processes. Successful and proven...