Sebastian di Paola Partner, PricewaterhouseCoopers
Sebastian di Paola Partner, PricewaterhouseCoopers

Treasury Best Practice– the role of FX automation - Automation in Treasury - facilitating compliance with Sarbanes-Oxley.

Sebastian di Paola examines how automating FX trading can assist in meeting Sarbanes-Oxley compliance.

First Published: e-Forex Magazine 22 / Standards / January, 2006

In recent years, treasurers of international companies have had to learn to deal with significantly increased volumes of regulation. The combined effect of Sarbanes-Oxley for SEC registrants and IFRS for companies in Europe has forced many companies to focus much of their scarce spare resources on compliance issues. This has certainly been the case for many finance functions, and the treasury department has proved no exception. In parallel with their Sarbox efforts, treasury departments have had to devote resources to integrating IAS 39’s complexities into their risk management operations and will now have to deal also with the additional disclosure requirements contained in the IASB’s latest standard on financial instruments, IFRS 7. In the meantime, more strategic initiatives, for example in the area of treasury technology, are being left on the back burner while efforts are focused on meeting the tight deadlines imposed by the new regulations. These efforts will not end there. Over time...continued

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