internal audit is a process affected by an entity ‘s board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting and compliance. this definition reflects certain fundamental concepts. internal control is: • geared to achievement of objectives in one or more categories operations, repor...

“The theory of banking relates primarily to the operation of commercial banking. More especially it is chiefly concerned with the activities of banks as holders of deposit accounts against which cheques are drawn for the payment of goods and services. In Anglo-Saxon countries, and in other countries where economic life is highly developed, these cheques constitute the major part of circulating ...

In this paper, perfect reconstruction filter bank structures for GF-(N) fields are developed. The new filter banks are based on the nonlinear subband decomposition and they are especially useful to process binary images such as document and fingerprint images. ( 1998 Elsevier Science B.V. All rights reserved.

Rapidly changing technology, financial innovation, and increased linkages among the world’s financial markets pose many challenges for commercial banks, other financial firms and markets, and their public regulators. History suggests, however, that while the challenges we face today may be unique, many are not fundamentally dissimilar from the problems others have faced in the past. For example...

In this paper, we present a new method for the design and implementation of modulated filter banks with perfect reconstruction. It is based on the decomposition of the analysis and synthesis polyphase matrices into a product of two different types of simple matrices, replacing the polyphase filtering part in a modulated filter bank. Special consideration is given to cosine-modulated as well as ...

This paper measures the welfare cost of bank capital requirements and finds that it is surprisingly large. I present a simple framework which embeds the role of liquidity creating banks in an otherwise standard general equilibrium growth model. A capital requirement plays a role, as it limits the moral hazard on the part of banks that arises due to the presence of a deposit insurance scheme. Ho...

We test the predictions of several recent theories of how bank capital affects the rates that banks charge their borrowers. Key to all these theories is the notion that the relative bargaining power of a bank and its borrower are critical. We find that banks with low capital are more sensitive to borrower cash flow than are banks with high capital: lowcapital banks charge relatively more for bo...

In cognitive radio techniques, OFDM is usually regarded as the physical layer candidate. However, the weaknesses of the OFDM technique, i.e., using plain FFT for spectral analysis , decreased bandwidth efficiency due to CP (cyclic prefix), high out-of-band emission, have been pointed out and the introduction of filter banks based multicarrier (FBMC) system has been advocated by a number of auth...

www.philadelphiafed.org While this view appears plausible, it actually contradicts the evidence of the last 20 years, which shows that banks do not appear to hold the minimum amount of equity required by regulators. Furthermore, while banks are typically highly leveraged compared with most nonfinancial firms, this doesn’t mean that similar forces are not at work when banks and nonfinancial firm...

Improving the regulation of banks has been at the centre of economic policy actions since the outbreak of the global fi nancial crisis. One of the many and conceptually very diff erent measures proposed is to improve the corporate governance of banks by setting qualifi cation standards for banks’ non-executive directors. To explore the rationale of such a regulation implemented in Germany, we c...