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.Banks in China Value Basel II Requirements- February 23, 2005 China 's major banks are starting to appreciate the importance of implementing the Basel II global accord on bank capital standards. Although the nation's banking regulators realize how difficult it will be for Chinese banks to comply with the new capital requirements, they are eager to make this happen.http://www.garp.com/risknews/newsfeed.asp?Category=19&MyFile=2005-02-23-10311.html Business chiefs wake up to IT as productivity driver- February 22, 2005 The gap in understanding between IT and the wider business is closing as companies learn the lessons from disappointing IT investments made during the late 1990s and early 2000s, according to a survey published this week.http://www.computerweekly.com/articles/article.asp?liArticleID=136880 Survey on Sarbox Reveals Companies Achieve Satisfactory Results at Less Cost- February 16, 2005 A central debate in the effort to comply with Sarbanes-Oxley particularly sections 302 and 404, is whether operational benefits will outweigh the costs. A new survey of 220 businesses conducted by RevenueRecognition.com and International Data Corp. suggests that while costs are front loaded, there is proportional value once companies get through the full compliance process. However, a "compliance chasm" exists - companies that crossed it achieved more effective results at less cost.http://www.garp.com/risknews/newsfeed.asp?Category=19&MyFile=2005-02-16-10269.html Joint Forum releases outsourcing guidance for financial services- February 15, 2005 The Joint Forum has today released a report examining trends in outsourcing in the financial sector. Outsourcing in Financial Services spells out the potential risks that outsourcing activities can pose to financial sector firms, while recognising the substantial benefits that outsourcing can provide. To assist firms and regulators in considering their outsourcing activities, the report presents a set of principles outlining issues that should be taken into account in the process.http://www.bis.org/press/p050215.htm Outsourcing Finance Functions Can Improve Control Over Governance and Compliance- February 10, 2005 While concern over governance and compliance issues has been a barrier to the decision to outsource finance functions, many companies that have outsourced finance functions say that they have actually achieved greater control over their governance and compliance, according to a report released yesterday by Accenture.http://www.riskcenter.com/story.php?id=10237 Operational risk another facet of compliance- February 8, 2005 Can any quantifiable value be derived from operational risk management ORM The question resonates in the minds of bankers all over the world. And for good reason, with the New Basel Capital Accord Basel II initiative to bring order to international capital markets and level the playing field for banks becoming operational in 2007. It requires that banks thoroughly address operational risks and develop internal solutions.http://searchsecurity.techtarget.com/originalContent/0,289142,sid14_gci1051972,00.html Sarbox Focus Now Centers on Internal Controls- February 2, 2005 The large number of recent filings by public companies pointing out shortfalls under Sections 302 and 404 of the law provides evidence of this focus on internal controls.http://www.garp.com/risknews/newsfeed.asp?Category=19&MyFile=2005-02-02-10183.html |