Steven J. Sherman discusses the role of the International Valuation Standards Council and how it differs from that of the accounting standard setters. Mr. Sherman also provides his thoughts on the large number of restatements by public companies in recent years due to valuation issues.
This episode of the Take 15 Series was originally released on 15 December 2011.
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Jennifer Curry formerly served as managing editor of the Enterprising Investor. Previously, she was the social media manager at the New York Society of Security Analysts (NYSSA). Prior to her work at NYSSA, Curry worked as the senior project editor for a nonfiction imprint at Barnes & Noble Publishing and as an assistant editor at the H.W. Wilson Company. She is the editor of several volumes in the Reference Shelf series, and her writing has appeared in Smithsonian, IndustryWeek, Barnes & Noble Review, and other publications. Curry holds a BS in journalism and a BA in anthropology from the University of Kansas, and an MA in anthropology from Hunter College, City University of New York.
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LCH says it has not seen a shift in euro-denominated clearing to the Continent, despite predictions the move would occur after Brexit. But EuroCCP CEO Cecile Nagel says, "The direction of travel is clear: There is going to be ongoing effort to drive more activity into Continental Europe." The Trade (UK) (20 Feb.)
The Australian Prudential Regulation Authority is increasing surveillance of whether financial institutions are ready to deal with risk posed by climate change by stress-testing climate resilience. Meanwhile, the Reserve Bank of Australia is trying to understand the "full dimensionality" of the economic impact from climate change. BNN Bloomberg (Canada) (20 Feb.)
A study by Capco shows banks, custodians and buy-side firms need to find $97 billion in untapped assets to comply with EU and US regulatory requirements. These requirements have increased in recent years, and "while firms still need to focus on efficiencies and optimization, they will also need to tap previously neglected or unrecognized pools of collateral," Capco partner James Arnett says. The Trade (UK) (20 Feb.)
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