Reliable Financial Reporting and Internal Control : A Global Implementation Guide

Stepping Up Financial Reporting Systems in an Expanding Global Economy

The United States already has the most stringent financial reporting requirements in the world due to its Generally Accepted Accounting Principles (GAAP). Now financial institutions must also contend with the global impact of new stipulations regarding auditing and reporting practices. This book provides comprehensive guidance as to what companies should now be doing to make their financial reporting more efficient and reliable, and illustrates how a sound internal control policy-based on the work of the Treadway Commission and the COSO report -will be a requirement for the organization that wants to compete in the evolving global marketplace. Based on months of research by the author, Reliable Financial Reporting and Internal Control brings together three issues crucial to risk management:
* Internal control and international accounting standards
* Reliable financial reporting as defined by COSO
* The New Capital Adequacy Framework by the Basle Committee on Banking Supervision

Also covered is the work accomplished by the Federal Reserve and the International Organizations of Securities Commissions (IOSCO). Here is a must-have guide for CFOs, controllers, and other corporate financial personnel in multinational companies and other companies who do business globally, as well as internal and external auditors, bank managers, and brokers.

Dr. Dimitris N. Chorafas has worked internationally as an advisor to financial institutions and industrial corporations since 1961. Over 6,000 banking, industrial, and government executives have participated in his seminars worldwide. A former Fulbright scholar, Dr. Chorafas is a graduate of the University of California, Los Angeles; the University of Paris; and the Technical University of Athens.