Internal Control and the Globalization of Financial Markets

Dimitris N. Chorafas

Chapter 3 in Implementing and Auditing the Internal Control System, 2001, pp 54-82 from Palgrave Macmillan

Abstract: Abstract One of the missing links in effective globalization of financial markets is the ability of internal control systems to span the whole network of a company’s operations — for any transaction or position, anywhere in the world, at any time. Steady tracking is important because fully or partly controlled instruments and subsidiaries abroad represent a major part of the risk taken by the parent company, contrary to the generally held opinion that they only represent ‘added income’.

Keywords: Financial Market; Senior Management; Audit Committee; Generally Accept Account Principle; Credit Institution (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59786-0_3

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DOI: 10.1057/9780230597860_3

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