Increased complexity in risk management is the biggest concern for institutional investors across the globe, a new survey shows. Commissioned by BNP Paribas Investment Partners and conducted by polling firm YouGov, the survey found the idea that risk management will become more complex is the biggest concern for 23% of respondents. The survey spoke to 177 asset…
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New York State Department of Financial Services (NYDFS) Superintendent Benjamin Lawsky announced his department has granted a charter under the New York Banking Law to itBit Trust Company, LLC – a commercial Bitcoin exchange based in New York City. The company is the first digital currency business to receive a charter from the NYDFS. The…
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More than one in four firms will increase investment by more than 20 percent. Nearly nine in 10 financial services firms plan to increase their investment in risk-management capabilities in the next two years in response to emerging risks of cyber security and fraud, according to a new report from Accenture (NYSE:ACN). The Accenture 2015 Global…
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The main financial risk facing the US today looks very similar to what caused so much trouble in 2007-2008: big banks with too much debt and too little equity capital on their balance sheets. Uneven global regulations, not to mention regulators who fall asleep at the wheel, compound this structural vulnerability. We already saw this…
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Many small businesses in the UK are hoarding cash surpluses because they don’t yet feel secure enough to invest in infrastructure, according to a new poll by the Institute of Chartered Accountants in England and Wales (ICAEW). The survey found that almost two-thirds (62 per cent) of small business owners have a cash surplus this…
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Given that disclosure of financial risk always has been a difficult mandate for publicly-traded companies, requesting the voluntarily disclosure of sustainability risks may seem like a nearly Sisyphean task. Currently, the Securities and Exchange Commission, under rule 405, requires disclosure of anything considered “material” through annual or quarterly filings. The Financial Accounting Standards Board…
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The accountancy profession has increasingly evolved beyond the core function of providing accounting services. Accountants can help businesses identify cost-cutting opportunities through energy efficiency, and draw attention towards the strategic marketing and brand building benefits inherent in pursuing an agenda of corporate sustainability. A new strategic initiative, sponsored by Chartered Professional Accountants of Canada (CPA…
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If you’re looking for a way to mix business, leadership, and a love for the environment, starting a sustainability consulting firm could be a terrific decision for you. In addition to helping companies develop an environmental conscience, you can show them the financial advantages of going green. A big vision Big companies are very good…
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CFOs who embrace sustainability can help improve an organization’s performance in several key areas: risk management, capital productivity, and innovation and growth. That’s according to a report about sustainability’s challenges and opportunities, based on case studies and interviews and published by Corporate Eco Forum and the World Environment Center. The report defines sustainability as protecting and…
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A recent proposal to change the presentation of financial information for not-for-profit entities, especially cash flow classifications, could serve as a preview of what might be in store for public companies down the line. The Financial Accounting Standards Board has issued a proposal meant to improve the presentation of net asset classifications presented in financial statements…
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