This may interest you…

We are constituting our founding Risk Accounting Standards Board (RASB) that will also function as our non-profit’s board of directors. If you are interested in serving in this capacity please write to me in confidence at peter.hughes@rasb.org or call me on +44 7766...

Message from the Chairman

It’s almost 20 years ago that I was asked by the Chase Manhattan Bank’s COO, Rick Mangogna, to form and lead a team with a mission to design and implement a risk reporting framework for global operations. We soon understood that achieving our mission depended on the...

Where Next with Operational Risk? – GARP.org article by Peter Hughes

Where Next with Operational Risk? Observation and measurement issues pose continuing challenges As a researcher, I spend a good deal of time reading academic papers. One recently came into my hands written by an eminent group of academics and practitioners on the...

The Chessboard of OpRisk Regulatory Capital

The battle for control over the op risk regulatory capital agenda has been fascinating to watch, rather like a game of chess. So, what happened on the regulatory chessboard? Here’s a summary: The banks played white and opened with the ‘regulatory capture’ gambit. In a...

A View from the Chairman

Our mission “to position Risk Accounting as the universally adopted method of identifying, quantifying, aggregating, and reporting all forms of non-financial risks” is unquestionably ambitious. Indeed, we are constantly reminded of the challenges we face. For example,...

The Rise of a Complexitocracy

The Rise of a Complexitocracy Can accounting help restore simplicity and comparability to financial and risk reporting? Published by Peter J. Hughes on GARP.org (Fri., Jly 31st, 2020) “Complexitocracy” is not in the dictionary. But maybe it should be. If it were, the...

Is accounting to blame for the pandemic?

Is accounting to blame for the pandemic? by Peter j. Hughes, published by PRMIA in the July 2020 issue of “Intelligent Risk” Banks and airlines have something in common: they both have the potential to transform an isolated and sometimes freak event into a...

Research Update: A Common Metric for Non-Financial Risks

Research Update - A common metric for non-financial risks In conjunction with the Durham University Business School, we are testing the inherent predictiveness of the RU… a common, additive metric designed to express all forms of non-financial risk (NFR). For more...

We Welcome Paul Costea as Chief Operating Officer of RASB

Paul Costea appointed as Chief Operating Officer of RASB We are pleased to announce the appointment of Paul Costea as Chief Operating Officer of RASB with immediate effect. In addition to his general administrative responsibilities, Paul will specifically focus on...

Accounting’s Operational-Risk Missing Link

Accounting’s Operational-Risk Missing Link A void that limits the influence of risk management and, at worst, increases the probability of unexpected losses. It is sound accounting practice to adjust accounting profits for expected future losses associated with the...