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Counterparty nonperformance risk (pdf, 655.3kb) is a key risk that warrants increased focus by management and audit committees. This publication highlights important accounting and reporting considerations including identifying key risks in the current market.

What challenges are likely to affect your company in 2009 and beyond? The credit crunch aftershocks and the deepening global recession  rank as the most important business risks for 2009, displacing regulation and compliance from the top spot. Green initiatives, competition from new entrants, human capital issues and reputational risk all rose in The 2009 Ernst & Young business risk report — the top 10 risks for global business. 

Despite the challenging fiscal climate, there are a few optimistic signs of change in today’s economic environment. This issue of BoardMatters Quarterly (pdf, 2.3mb) is dedicated to helping audit committees understand the issues that lie ahead and suggests areas of focus going forward. Learn more on our Audit Committee site.

eXtensible Business Reporting Language (XBRL), is single digital financial reporting standard which makes it possible to store business and financial information in a computer-readable format. XBRL doesn’t change the accounting standards or methods used for business and financial reporting, but it is predicted to have a profound impact on various stakeholders. Our publication Addressing XBRL (pdf, 919kb) explores key questions including: 

• Regulatory compliance
• Benefits and Return on Investment
• Investor relations
• XBRL and IFRS

The debut issue of Disputes & Differences (pdf, 3.2mb) compares how the US, the UK, Australia, and Spain handle post-transaction disputes. The newsletter briefly explains the key features of these disputes and comments on important emerging trends.

Corruption is a growing problem for businesses. Our 10th global fraud survey offers analysis of insights from nearly 1,200 executives into their experiences of bribery and corruption. We also describe the steps to create what we believe is an effective anti-corruption compliance program.

We sponsor two important reference tools from Transparency International that can help you understand the risk of bribery and corruption in international markets—an essential aspect of risk mitigation.
The Corruption Perception Index (pdf, 383kb) ranks countries by the degree to which corruption is perceived to exist among public officials and politicians.
The Bribe Payers Index (pdf, 536kb) ranks the world’s leading exporting countries according to the propensity of firms with headquarters within their borders to bribe when operating abroad.