AxiomSL: BCBS 239: Don’t repeat the mistakes of Sarbanes-Oxley compliance
The Basel Committee’s Principles for Effective Risk Data Aggregation and Risk Reporting (BCBS 239) present major challenges for financial firms around the world. But as they prepare for the introduction of the principles in 2016, they Solvency IIcan learn valuable lessons from the painful, expensive and often wasteful experience of implementing the Sarbanes-Oxley Act (SOX) in the early 2000s.
Like BCBS 239, SOX required firms to put controls in place around their processes and make them
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