Tax, Accounting & Legal

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IFRS and Weather Risks: Now is the Time by Jean-Louis Bertrand, Professor of Finance, ESSCA Member of the “Climate and Financial Innovations” working group, Paris-Europlace and weather risk management consultant at Metnext Wall Street has put a lot of...

Fair Valuation Takes Centre Stage by Jiro Okochi, Chief Executive Officer, Reval How the world has changed since our first Hedge Accounting Guide of 2008. According to many pundits and bank lobbyists, fair value accounting rules under FAS 157 stood near the epicentre...

Managing Financial Risk during Market Turbulence An Interview with Wayne Read, Partner, Financial Risk Management, KPMG What risk management and hedge accounting issues do you see CFOs and treasurers facing in the current climate? In Australia, as in many other parts...

39 Steps: Behind the Curtain by Francois Masquelier, Head of Treasury, Corporate Finance and ERM, RTL Group, and Honorary Chairman, EACT Bankers recently criticised accounting rules, blaming them for deepening the financial crisis. Can an accounting standard be...

Market Volatility and Financial Covenants by Stephen Walter, Structurer, Commerzbank Corporates and Markets The financial markets tumult has left many corporates facing a series of challenging decisions; arguably none more so than the negotiation of funding or the...

A Year in Risk Management by Ashish Advani, Director, Derivatives, Royal Caribbean International About Royal Caribbean International Royal Caribbean International (RCL) was founded in 1969 and now has a fleet of 39 ships with a capacity of 78,650 passengers. The cruise...

Hedge Accounting in accordance with IAS 39: Driving force or impediment to economically meaningful risk management? Results of a PricewaterhouseCoopers study in collaboration with the Justus-Liebig-University at Giessen The regulations governing the accounting of...

Doing Business in Germany by Prof. Dr. Dieter Endres, Service Line Leader Tax & Andrew Miles Tax Editorial Board of PricewaterhouseCoopers AG, Germany For decades, Germany has been a country with a highly developed, high-cost, economy. The opportunities – but...

Managing Settlement Risk at National Express by Mike Dixon, Assistant Group Treasurer, National Express plc National Express is one of the world’s leading international public transport groups, with an annual turnover of £2.6 billion. Over one billion...

­The South African Treasurer within the Contemporary Corporate Governance Framework by Vaughan E Firman, Finance Director – South African Operations, Netcare Ltd Jean Renoir’s classic film, ‘La Règle du jeu’ (‘The Rules of the...

Lessons in Securitisation from the Sub-prime Crisis by Thomas Mairer, MBA, Branch Manager Porsche Corporate Finance GmbH Porsche Holding GmbH’s subsidiary company, Porsche Bank AG, primarily offers car finance in Austria and seven Eastern European countries. In...

Journey into the Unknown – Internal auditing in the treasury function by Thomas Schräder, Partner, and Birger Wriedt, Senior Consultant, at PricewaterhouseCoopers, Düsseldorf The sub-prime market has clearly shown that treasury risks were not adequately...