Operational Risk NewsLatest news articles on the subject of Operational Risk, Sarbanes-Oxley and Basel II. m-Bryonic Solutions Limited provide solutions for managing process efficiency and operational risk.First Sentence Under Sarbanes-Oxley- January 31, 2005 Last week the U.S. Attorney's Office for the Northern District of California announced that Thomas Trauger, a former partner of Ernst & Young and certified public accountant licensed in the State of California, was sentenced to 12 months in federal prison, ordered to pay a $5,000 fine and undergo two years of supervised release for his part in altering and falsifying accounting records.http://www.riskcenter.com/story.php?id=10157 US provides compliance lesson for UK managers- January 31, 2005 The past few years have seen a slew of regulations - including Sarbanes-Oxley, International Accounting Standards and the forthcoming Basel 2 - that have significant implications for IT systems.http://www.computerweekly.com/articles/article.asp?liArticleID=136419 FSA consults on Basel II as banks weigh IT costs- January 28, 2005 The Financial Services Authority has issued a consultation paper on the European Union's Capital Requirements Directive for Basel II in an effort to aid firms as they undertake extensive systems and risk management changes to comply with the new regulations.http://www.finextra.com/fullstory.asp?id=13155 Basel rules won't be easy for U.S. banks- January 27, 2005 U.S. banks face a huge task in putting new global bank safety rules in place over the next three years and should begin preparing for them as quickly as possible, U.S. bank regulators said on Thursday.http://money.cnn.com/2005/01/27/news/international/banks_basel.reut/ Managing Risk and Data: Two Key Drivers in the Global Financial Industry- January 20, 2005 A study sponsored by Reuters and conducted by AIM Software and the Vienna University of Economics shows that improving data quality is considered a key issue for risk management.http://www.destinationcrm.com/articles/default.asp?ArticleID=4805 FSA publishes its Financial Risk Outlook- January 19, 2005 The FSA has today published its Financial Risk Outlook 2005, which details the risks that it sees facing the financial sector and its customers. The Outlook sets out the background against which the FSA sets its priorities for the year, which will be detailed in the Authority's Business Plan to be published next week.http://www.fsa.gov.uk/pubs/press/2005/005.html Stress Testing Continuing to Evolve as a Practical Risk Management Tool- January 19, 2005 The Committee on the Global Financial System (CGFS) yesterday released a report entitled "Stress testing at major financial institutions: survey results and practice."http://www.riskcenter.com/story.php?id=10073 Compliance targets missed due to unsophisticated management- January 18, 2005 IT directors across Europe face a raft of compliance requirements but many lack confidence in their ability to meet them, a survey of 400 European IT directors has revealed.http://www.computerweekly.com/articles/article.asp?liArticleID=136167 Business Continuity Plans Pass Tsunami Test- January 14, 2005 Indonesian and Sri Lankan banks' business continuity and disaster recovery programs made it through the tsunami disaster.http://www.garp.com/risknews/newsfeed.asp?Category=19&MyFile=2005-01-14-10052.html Basel II driving IT Investments International Study Finds- January 13, 2005 Financial industry regards data quality as a key issue for risk managementhttp://www.s-ox.com/News/detail.cfm?ArticleID=411 |