Discover and read the best of Twitter Threads about #auditors
Most recents (6)
[1/🧵] @DigiEuro interviewed @moderndosh and @AntonyWelfare on the @Ripple #CBDC-Manager software.
The underlying private #CBDC-ledger based on #XRPL was also heavily discussed.
I summarized the most of the interview for you, along with my personal comments. 🧵👇
The underlying private #CBDC-ledger based on #XRPL was also heavily discussed.
I summarized the most of the interview for you, along with my personal comments. 🧵👇
[2/19] To begin, if you are completely unfamiliar with #CBDCs and the #Ripple solution, here is a nice place to start:
[3/19] One important reason for using a private version of the public #XRPL is that a central #bank needs to be able to control the #money supply.
Why use a private ledger ❓
▶️ Central banks and #governments must be able to mint and destroy #currencies.
Why use a private ledger ❓
▶️ Central banks and #governments must be able to mint and destroy #currencies.
Extremely well-educated people with a scholarly inkling don't do well in the Third World.
Comparatively, professionals with average skill sets do much better in mediocre workplaces, because they communicate in a language which simple-minded colleagues & customers comprehend
Comparatively, professionals with average skill sets do much better in mediocre workplaces, because they communicate in a language which simple-minded colleagues & customers comprehend
I remember working with an office chap who only understood business transactions and outcomes in terms of bookkeeping and accounting entries.
His mind never went beyond management or financial accounting.
No lateral thinking at all!
He was later sacked by the Shareholders.
His mind never went beyond management or financial accounting.
No lateral thinking at all!
He was later sacked by the Shareholders.
The biggest challenge comes when you are asked to do your job and also explain things to others to prove you are right to justify your worth.
This kind of job is the most stressful.
Teaching and training colleagues once in a while it is fine, but, 5 days a week, is not helpful.
This kind of job is the most stressful.
Teaching and training colleagues once in a while it is fine, but, 5 days a week, is not helpful.
Risk Management is not just about producing tons of reports that nobody wants to read in the office.
I am very angry to note that most of the #ERM/Risk Desks just produce day-end reports, which end up in the dustbin.
Risk Dept. should not be a tick the box function.
I am very angry to note that most of the #ERM/Risk Desks just produce day-end reports, which end up in the dustbin.
Risk Dept. should not be a tick the box function.
what is the point of preparing #VaR Reports, when the fund manager does not understand basic probability?
Rubbish!!
Rubbish!!
There is no point in hiring a world-class hard science PhD to do risk management work at financial institutions or elsewhere, if the board members have zero numeracy and data science skillsets, the staff in front and back offices have poor technical and academic backgrounds, etc
Basel I, II, III: evolution of global banking regulation via @YouTube
It was interesting to watch this discussion.
Even the participants agreed to the fact that Basel Accords are a complete exercise in futility.
What might happen tomorrow is not known even to the best minds working in the area of financial bank risk management.
Even the participants agreed to the fact that Basel Accords are a complete exercise in futility.
What might happen tomorrow is not known even to the best minds working in the area of financial bank risk management.
Being a risk management professional, I can very well understand how rogue traders can wreak havoc! the concept of having a Middle Office came into existence after the Baring fallout. Middle Office is supposed to check and re-check all transactions in real-time and at the close
There is an obscure problem when you join the BIG-4 Advisory or auditing, or consulting side of the profession within the services sector.
Most of the co-workers come from an #Accounting background, which makes things awfully difficult to communicate and interpret.
Most of the co-workers come from an #Accounting background, which makes things awfully difficult to communicate and interpret.
I remember working with an #Audit Expert, having a BIG-4 background.
The chap didn't understand anything except for debit, credit, and fraud risk.
The assignment required to be sophisticated Actuarial Finance, Mathematics, and Econometric Skill Sets to understand the GAPS.
The chap didn't understand anything except for debit, credit, and fraud risk.
The assignment required to be sophisticated Actuarial Finance, Mathematics, and Econometric Skill Sets to understand the GAPS.
#Thread
1/
In the run up to the #USPresidentialElections2020 when the characters & stories seem more mind-boggling than ever, it can be difficult to discern...
'How the fuck did the world end up here'?
Some great answers/insight here #Kleptopia 👏📕
💸
1/
In the run up to the #USPresidentialElections2020 when the characters & stories seem more mind-boggling than ever, it can be difficult to discern...
'How the fuck did the world end up here'?
Some great answers/insight here #Kleptopia 👏📕
💸
2/
Uncivil & Outright Criminal Behaviour seems to have been normalised throughout societies everywhere;
- Politics
- Crony Capitalism
- Social Media
- Reality TV
... Even Sport 🧐
I've tried to get my head around it with the help of some good books & following smart journo's
Uncivil & Outright Criminal Behaviour seems to have been normalised throughout societies everywhere;
- Politics
- Crony Capitalism
- Social Media
- Reality TV
... Even Sport 🧐
I've tried to get my head around it with the help of some good books & following smart journo's
