Commodity-and-Energy-Risk-Management.pdf

Identify and design documentation templates

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Identify and design documentation templates commensurate with SFAS133 standards Identify and design templates and user guidance supporting required analysis Analyse and implement organisation requirements for hedge accounting (processes, organisation, IT, market data) Prepare and review IAS 39 hedge accounting documentation Support derivative accounting system selection and business and functional requirements definition Domestic GAAP and International Accounting (IFRS) Provide technical support to companies with specialised financial reporting requirements Present the latest domestic GAAP and IFRS/international accounting developments and standards to company management and audit committees Develop and present industry-specific research and analysis of accounting and reporting practices and trends SFAS 157 Review fair value measurement methodology and application Documentation Identify and recommend documentation requirements commensurate with domestic and international accounting guidance Assist management to document commodity and derivative accounting procedures, assumptions, critical data, and user/ department accountabilities Commodity businesses are typically familiar with and active users of derivative and complex financial products. While derivatives serve a major and increasing role in commodity risk management practices, new and evolving regulations require strict adherence to local and international accounting standards. Considering these risks and growing external scrutiny, leading companies seek assistance with accounting research and guidance, local and international accounting support, or accounting documentation and governance. S T R A T E G Y C O N C E P T I M P L E M E N T A T I O N Commodity & Energy Risk Management Model Development, Validation & Remediation Operations Tax Accounting Regulatory Internal Audit Forensics & Investigations Governance, Roles & Policies Hedging & Risk Strategy Credit & Collections Risk Reporting & Management Information Systems Commodity and Energy Risk Management | 9
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Governance, Roles, & Policies KPMG Service Activities Infrastructure and Governance Recommend infrastructure requirements supporting a wide-ranging commodity risk management framework Assist to design and implement policies, organisational structure and roles and responsibilities within the Risk Management operations Recommend risk oversight committee structure and mandate, operational roles and responsibilities and controls supporting prudent risk management and Board/Audit Committee oversight requirements Industry Benchmarking Survey industry participants to help determine metrics and priorities around infrastructure, governance and compensation structures Survey industry participants to help determine industry practice with respect to resource levels (front-, middle-, back-office, operations), systems, committees and committee composition, transaction volumes and types, performance and cost metrics and roles and responsibilities
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