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Sunday, August 2, 2020 | History

2 edition of International versus domestic auditing of bank solvency found in the catalog.

International versus domestic auditing of bank solvency

Andrew Feltenstein

International versus domestic auditing of bank solvency

by Andrew Feltenstein

  • 325 Want to read
  • 26 Currently reading

Published by International Monetary Fund, IMF Institute in Washington, D.C .
Written in English

    Subjects:
  • Banks and banking -- Auditing.,
  • Bank examination.,
  • Bankruptcy -- Prevention.

  • Edition Notes

    StatementAndrew Feltenstein and Roger Lagunoff.
    SeriesIMF working paper -- WP/03/190
    ContributionsLagunoff, Roger Dean., IMF Institute., International Monetary Fund.
    The Physical Object
    Pagination29 p. :
    Number of Pages29
    ID Numbers
    Open LibraryOL20058452M

    This handbook contains the complete set of International Auditing and Assurance Standards Board’s (IAASB) standards on quality control, auditing, review, other assurance and related services, as well as the non-authoritative International Auditing Practice Notes (IAPNs). It also includes a preface to the IAASB’s pronouncements, a.   I'd like to talk today about one important element of the international regulatory reform agenda--namely, liquidity regulation. 1 Liquidity regulation is a relatively new, post-crisis addition to the financial stability toolkit. Key elements include the Liquidity Coverage Ratio (LCR), which was recently finalized by the Basel Committee on Banking Supervision, and the Net Stable Funding Ratio.

      Authors: Stuart Firman, Tanya Causon Published on October 3, On 26 August , the Malta Financial Services Authority (the “MFSA”) issued a consultation document proposing the introduction of external auditing requirements for certain quantitative reporting templates that will form part of the Solvency Financial Condition Report (the “SFCR”).   Audit Procedures in Banks. Banks are central to the nation’s financial system because, by receiving deposits and distributing loans, they circulate money. This makes stable and efficient banks essential to the economy. Bank auditors, therefore, evaluate financial information for accuracy and perform procedures that.

    Additional risk factors for Bank /FI audit Custody oflarge amount monetary items-Assets that can rapidly change in value -Operate with high leverage (capital to assets) -Short term deposit, solvency, liquidity issue -Complex accounting and IT systems -Assume significant commitments -Wide spread of branches and departments -Highly regulated with strict enforcement.   International practices are compiled in the International Financial Reporting Standards (IFRS), as set forth by the IASB. In the U.S, the FASB releases statements of financial accounting that.


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International versus domestic auditing of bank solvency by Andrew Feltenstein Download PDF EPUB FB2

"International versus domestic auditing of bank solvency," Journal of International Economics, Elsevier, vol. 67(1), pagesSeptember. Andrew Feltenstein & Roger Lagunoff, " International versus Domestic Auditing of Bank Solvency," Working Papers gueconwpa~, Georgetown University, Department of Economics.

1. Introduction. The aim of this paper is to analyze alternative ways to prevent deposit or losses from international bank insolvencies. There is a general view within the current literature on the “new financial architecture” that openness and transparency in reporting bank balance sheets, as well as other financial data, is a key element in preventing such by: 6.

Feltenstein, Andrew and Lagunoff, Roger, International Versus Domestic Auditing of Bank Solvency (September ). IMF Working Paper, Vol., pp.

Cited by: 6. International Versus Domestic Auditing of Bank Solvency. Request PDF | International Versus Domestic Auditing of Bank Solvency | This paper examines alternative ways to prevent losses from bank insolvencies. We develop a model that compares two. The first is a system of central bank auditing of national banks.

The second is carried out by an international agency that collects and disseminates risk information on banks in all countries. The international auditor is shown to perform at least as well, and sometimes better than, auditing by either central banks or voluntary disclosure by.

"International Versus Domestic Auditing of Bank Solvency" published on by INTERNATIONAL MONETARY FUND. International Versus Domestic Auditing of Bank Solvency Prepared by Andrew Feltenstein and Roger Lagunoff 1 September Abstract The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy.

Working Papers describe research in progress by the. The first of these is a system of central bank auditing of national banks. The second type of auditing is carried out by an international agency that collects risk information on banks in all countries and then provides it to depositors.

International Versus Domestic Auditing of Bank Solvency. Author/Editor: The second type of auditing. Request PDF | International versus domestic auditing of bank solvency | This paper focuses on the switching behaviour of enrolees in the Swiss basic health insurance system.

Even though the new. Get this from a library. International versus domestic auditing of bank solvency. [Andrew Feltenstein; Roger Lagunoff; IMF Institute.; International Monetary Fund.] -- This paper examines alternative ways to prevent losses from bank insolvencies.

It is widely viewed that transparency in reporting bank balance sheets is a key element in reducing such losses. Published on 20 November Solvency II: external audit of the public disclosure requirement – CP43/ This consultation paper (CP) is relevant to firms in scope of Solvency II including the Society of Lloyd’s (insurers), auditors and those individuals or firms who are likely to use the Solvency and Financial Condition Report (SFCR).

This Statement has been prepared by the International Auditing Practices Committee (IAPC) of the International Federation of Accountants.

The IAPC bank audit sub-committee included observers from the Basel Committee on Banking Supervision (the Basel Committee).* The document was approved for publication by the IAPC at its meeting in October ank’s”) proposal regarding the external audit of elements of Solvency II regulatory returns/public disclosures.

The proposals apply to all undertakings in the scope of Solvency II. It is proposed that the Central Bank will impose the external audit requirement for financial years ending on or after 31 December The results in this paper suggest that an international bank's cost of funds raised through a foreign subsidiary is percent higher than the cost of funds for a purely domestic bank.

That is a sizeable difference, given that the overall mean cost of funds is percent. In particular, there is debate over whether or to what degree international accounting and auditing standards should influence U.S. GAAP and U.S.

Generally Accepted Auditing Standards (U.S. GAAS), respectively. The second is to what degree business risk should. international accounting and auditing standards, as it recognizes the contribution that 2 This can be achieved by shifting gradually from collateral-based lending decisions to lending decisions which are based on the financial performance of the prospective borrower.

centralized planning and -making, the bank’s decision directors are responsible for ing that the structure, ensur responsibility, and controls for managing their institution’s liquidity risk are clearly documented.

To fulfill their oversight responsibilities, directors regularly monitor reports that highlight bank. The external audit of the relevant elements of the SFCR will be required on an annual basis given that the SFCR is required to be published, and submitted to the CBI at the same time, annually.

The audit report shall be submitted in line with the deadlines for reporting to the Central Bank under Solvency II as follows. In the opinion of the European Central Bank (ECB), it is important to map at least the following risks: (a) credit risk, (b) market risk, (c) operational risk, (d) interest rate risk in the banking book, (e) participation or equity risk, (f) sovereign risk, (g) pension risk, (h) funding risk, (i) risk concentrations, and (j) business and.

Whether due to random economic shocks or deliberate policy measures, sudden relative price changes can lower bank solvency. Whereas “winners”—i.e., th.for Solvency II (i.e. for the figures on Solvency II balance sheet as at 1 January ). • Solvency II: Pillar II requirements This field relates to whether the national governments or the NCAs are requiring the audit/assurance on disclosures under Pillar II of Solvency II (i.e.

risk management). • timing of audit .International Standards on Auditing, or ISAs. Further, this publication is not meant to be exhaustive and reading this publication is not a substitute for reading the ISAs or the standards and proposals issued by the United States Public Company Accounting Oversight Board (PCAOB).