Independence means providing professional opinion without compromising judgment. Independence policies set by SEC, PCAOB, AICPA, and other regulatory bodies. Independence requirements apply to audit clients and their affiliates
Congress established the Dodd-Frank Act in 2010 to regulate the multi-trillion dollar swap market. CFTC oversees swaps, while SEC regulates security-based swaps. The new regime aims to enhance transparency and accessibility
Auditor independence ensures no financial interest in audited businesses. Independence requires integrity and objective approach to audit process. Independence is cornerstone of auditing profession
Founded in 2010 by Ismail Ahmed, Catherine Wines, and Richard Igoe. Provides services in over 130 countries and 70 currencies. Operates over 5,000 corridors network. Connected to major mobile money services globally
CAMELS evaluates financial institutions using six factors: Capital, Asset, Management, Earnings, Liquidity, and Sensitivity. System was developed in 1979 by FFIEC and adopted internationally by banks. Rating scale ranges from 1 (best) to 5 (worst), with 2-5 indicating high-quality performance
CAMELS is a US supervisory rating system for banks. Developed in 1979 as UFIRS, later modified to include sensitivity. Uses 1-5 scale, with 1 being best and 5 worst. Only used by top management for risk regulation