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Risk Control Requires Authority, Goals and Organization

  • Dimitris N. Chorafas
Part of the Palgrave Macmillan Studies in Banking and Financial Institutions book series (SBFI)

Abstract

When, in my seminars, I am asked about a basic prerequisite for rigorous risk management, my responses include not one but several factors, some of which are general and others specific to the enterprise. By far the most important is independence of opinion, which was discussed in Chapter 8. The person entrusted with risk control must be able to speak his/her mind, and advise top management to stop compounding the risks.

Keywords

Risk Management Balance Sheet European Central Bank Credit Default Swap Risk Control 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

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    US GAAP and IFRS apply different valuation methods to different types of assets and liabilities. For example, one criterion that determines the valuation method is the intended holding period of the asset or liability. D. N. Chorafas, IFRS, Fair Value and Corporate Governance: Its Impact on Budgets, Balance Sheets and Management Accounts, Butterworth-Heinemann, London/Boston, MA, 2006.Google Scholar

Copyright information

© Dimitris N. Chorafas 2012

Authors and Affiliations

  • Dimitris N. Chorafas

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