Describing IFRS 17 as “the biggest insurance accounting change in decades”, this short article and webcast from EY profiles the seismic changes occurring with a new accounting standard affecting the Insurance industry. It will have some profound implications for the management of data quality and lineage too.
The regulatory landscape has become increasingly complex with ever more requirements on firms and regulators in the area of compliance. Read more on this in the thought-provoking article at the following link.
The European Central Bank are seeking improvements in compliance and encouraging firms to get their BCBS 239 data quality houses in order. Further details on this initiative are contained in an article at the following link.
For reference, leading firm of solicitors McCann Fitzgerald published the outcomes of Central Bank checks in relation to complying with the new EMIR Trade Reporting requirements at this link.
There are now additional processes to be adhered to. Confidence in data quality underpins accurate AML reporting, as can be seen in the McKinsey article at this link.
In this blog, we outline the security implications of GDPR and how organizations should look upon the new regulation not as a business restriction but as an opportunity to rethink data security in the face of the growing cyber threat: http://www.intuition.com/blog-cybersecurity-gdpr/
The Institute Of Internal Auditors (IIA) discusses ‘Assessing Involvement in Organizational Use of Data’ with the use of some very informative infographics and statistics. According to their study, only 29% of Chief Audit Executives are ‘Very or extremely confident in the strategic decisions their organization makes based on data it collects and analyzes’. Read the pdf here… 2016 Pulse[…]
The following report focuses on the status of adoption of all the Basel III standards (due to come into effect by 2019) to ensure that the Basel standards are transformed into national law or regulation according to the internationally agreed timeframes. The report is based on information provided by individual members as part of the[…]