International framework for liquidity risk measurement, standards and monitoring: corporate governance and internal controls
AbstractThis paper is structured in accordance with identified components which are considered to be essential to the successful implementation of the (two fold) topics of discussion of this paper, namely, monitoring and liquidity risk measurements. The importance of successfully communicating results obtained from monitoring and measuring such risks, and the role of corporate governance in ensuring such effective communication, constitutes a recurring theme throughout this paper. The identified components are as follows: i) Corporate governance (ii) Internal controls (iii) Disclosure (iv) Management of risk (v) Substance over form (vi) Transparency As well as highlighting the interdependence of these components, the paper also aims to accentuate the importance of individual components. Whilst no hierarchy of importance is assigned to these components, corporate governance and internal controls are two components which are analysed in greater depth (than other components). Furthermore, corporate governance could be accorded a status of greater importance than internal controls having regard to the fact that whilst internal controls relate to a very vital control aspect of an organisation, corporate governance relates to all processes – be it decision making, control, production, performance, within a company/bank. The paper will also attempt to demonstrate that it is possible to implement a system of regulation which combines increased formalised procedures and/or detailed rules - whilst giving due consideration to the substance of transactions.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 21847.
Date of creation: Apr 2010
Date of revision:
corporate governance; internal controls; monitoring; liquidity; regulation;
Find related papers by JEL classification:
- K2 - Law and Economics - - Regulation and Business Law
- G3 - Financial Economics - - Corporate Finance and Governance
This paper has been announced in the following NEP Reports:
- NEP-ACC-2010-04-17 (Accounting & Auditing)
- NEP-ALL-2010-04-17 (All new papers)
- NEP-LAW-2010-04-17 (Law & Economics)
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