It has become fashionable to blame global banking failures on the unfettered growth in 'hard to value and hard to sell' level 3 banking assets. With the majority of large UK and many US banks collapsing or forced to raise capital over the 2007-9 period, blaming bankers may be satisfying but is...

Russia's capability of meeting Europe's oil and gas (Oamp;G) demand has coincided with the Duma's stated objective of consolidating political control over strategic assets. Our sector study of strategic asset acquisitions by Russian Oamp;G companies for the period 2000-2006 analyses the relative...

Despite a trend toward asset privatization, host governments are retaining ownership over strategically important domestic oil and gas resources, effectively limiting corporate foreign direct investment (FDI). These findings are supported by an analysis of global reserve acquisitions for the...

Economic capital models are potentially powerful tools for enterprise risk management (ERM), and for the supervisory review process (Pillar 2) of the Basel II and Solvency II regulatory capital frameworks. We argue that, to fulfill this potential, economic capital models need to be fully...

This paper provides evidence as to how five factors highlighted in the current UK auditing standard are taken into account by auditors in analytical review (AR) judgements. While the relative importance of particular cues was generally found to be consistent with the standard, certain factors...

Purpose – The purpose of this paper is to challenge the conceptual basis upon which the current auditing standards are based. Design/methodology/approach – The paper critically appraises the Auditors' Code published by the Auditing Practices Board and containing the nine fundamental and...