finance

Control interno de las entitades del sector publico local

11 de marzo 2015, COSITAL Hoy ha llegado oficialmente al Consejo General el texto del Proyecto de Real decreta,  por el que se regula el régimen jurídico del control interno de las entitades del sector publico local que ha elaborado el Ministerio de Hacienda y Administraciones Públicas en desarrollo de lo establecido en la Ley 27/2013  de 27 de diciembre, de […]

What’s Wrong with Risk Models?

April 27, 2010, The New Yorker First up, sincere apologies to the organizers and attendees of the Milken Global Forum, in Los Angeles, where I was due to appear this afternoon at a session about economic models of risk. I was looking forward to engaging the other panelists, who included Nobel laureate Myron Scholes, of “Black Scholes” fame; Colin Camerer, […]

Mapping high-level corruption risks in Spanish Public Procurement

High-level corruption and fraud has had an increased impact on the social and political debate in Spain, especially since the beginning of the financial crisis when several cuts in social spending were made. Greater attention is being paid to where and how the government spends its public funding. This paper explores the extent and forms of political corruption in Spanish […]

Manifesto for local economies

A thorough manifest focused on a fundamental shift in the way policy and economic development is designed, legislated for, strategised and delivered. The Centre for Local Economic Strategies is convinced that recent approaches do NOT have delivered strong enough social or local economic outcomes to deal with the issues many individuals and communities face. A clear statement. They plea (quoted from the […]

Global model practice survey 2010 – Adding some hot topics

Source: Deloitte Foreword We are proud to present the second edition of the model practice survey conducted by Deloitte during the first half of 2010. Due to the success of the 2009 edition, which primarily had European financial institutions in scope, it was decided to broaden the scope to global coverage. This survey includes the response of 89 financial institutions, […]

Rethinking Risk Management in Financial Services

Practices from other domains Source: World Economic Forum, prepared in collaboration with The Boston Consulting Group. Letter from the Steering Committee: “The financial crisis has, to put it mildly, seriously challenged our traditional approach to risk management. Consequently, a number of individuals and institutions have advanced ideas for improving not only the analytical framework, but also the status and relevance […]

EU policy guru: ‘Austerity plans risk stifling growth’

What risks are actual embedded in the approach of our public debt. It is clear that we should listen to one another, because one strategy seems not to fit all. Our public leaders Sarkozy, Obama and Merkel circle around the facts and the different strategies. This article shares a light on the different angles and aspects of the different approaches. […]

Risk management in support for budget-cutting

By: Ed Mallens, Board member PRIMO Nederland This year PRIMO Nederland started with the implementation of its Business-plan 2010, as approved by the Board at a meeting held last February. The main objectives are to sustain the knowledge on public risk management and to expand the profile of PRIMO Nederland in the Governmental markets of Local and Regional Authorities and […]

An Unrealized Opportunity for Revenue, Risk Free

Source: ICMA (International City/County Management Association) by Ron Blanquie “It’s no wonder that risk management’s public role is often underused and misunderstood. Government entities have incorrectly concluded that risk management’s overall costs can only be tethered but not controlled or reduced. Public entities in California today face an unprecedented challenge as they try to maintain the levels of public service […]

The social crisis warrants as much political commitment as the banking crisis

Source: Committee of the Regions 03.06.2010 – Europe’s financial and economic crisis is increasingly becoming a social crisis too, and is testing European solidarity to the limit. The EU’s territorial cohesion and public confidence in European integration are both at stake. At their plenary session, to be held on 9 and 10 June 2010, the elected representatives of Europe’s regions […]

Eurozone in crisis

Source: BBC One of the main causes of the currency crisis in the eurozone is that virtually all countries involved have breached their own self-imposed rules. Under the convergence criteria adopted as part of economic and monetary union, government debt must not exceed 60% of GDP at the end of the fiscal year. Likewise, the annual government deficit must not […]

Report “Credit Lost”

Report of the Parliamentary Committee Inquiry Financial System Tweede Kamer der Staten-Generaal (House of Representatives, Netherlands Parliament), 10 May 2010 From the report: “Background to and structure of the inquiry In 2007, the world was shocked by the rapid increase of problems in the financial sector, which were caused largely by problems in the mortgage market in the United States. […]

Seizing the day

The impact of the global financial crisis on cities and local public services The ‘Great Recession’ has had a dramatic impact on the financial services sector and other areas of the private sector and highlighted the importance of the role of government at international and national levels in addressing global and systemic risks. But what has been the impact of […]

G20-agenda: risk management

On the 14th of March, next week, the G20 countries are meeting in London to prepare for the global economic summit next month. What will be on the agenda? Financial regulators as tax, funds and bonusses. Of course. But the real focus will be on prevention and avoiding disasters. for the future. Quite an ambition. It seems to be a […]

Financial Risk Outlook 2009

Every city and village in Europe, and with them politicians and managers, will be confronted with the financial crisis by the way policies and projects can and will be forecasted and budgetted. The flooding of the risk crisis is not yet over. The water level is still high. And when the “water” falls to its normal level we will be […]

Micro-Managing the Macro

A soft introduction to a hard landing of our financial system. By Jules Muis, Former VO & Controller of the World Bank. In common parlance, ‘micro-managing’ does not have a particularly heartwarming ring. It connotes decisions being made by bean counters at the expense of the bean makers. It sounds, in particular, un-sexy when put to those high-flyers among us […]

COSO: Enterprise Risk Management Framework

General handbook about Enterprise Risk Management (US, 2004) COSO is a voluntary private sector organization dedicated to improving the quality of financial reporting through business ethics, effective internal controls, and corporate governance. This framework, prepared for The Committee of Sponsoring Organizations of the Treadway Commission (COSO), details the essential components of enterprise risk management and the context in which they […]