New accounting rules put focus on training
"Training is your ‘insurance policy’ for Basel II," said account manager Pepe Halai. "Companies are preparing new systems to comply with these new regulations. If users don’t understand the impact of what they’re inputting, systems can fail."
Basel II, which will require banks to calculate their operational risk in order to put capital behind it, and accounting rules such as IAS 39 and FAS 133, under which banks must mark derivatives to market, are among the new regulations banks are currently
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