The importance of internal audit in banks – An empirical research in Greek banks

Η παρούσα διατριβή αποσκοπούσε στη διερεύνηση της σημασίας του εσωτερικού ελέγχου στην περίπτωση τραπεζών, και πιο συγκεκριμένα στην περίπτωση συγχωνεύσεων και εξαγορών. Ο εσωτερικός έλεγχος είναι μια λειτουργία που είναι απαραίτητη στο σύγχρονο, μεταβαλλόμενο περιβάλλον. Μέσω αποτελεσματικών συστημάτων εσωτερικού ελέγχου, οι τράπεζες μπορούν να διατηρήσουν τη σταθερότητα και την εμπιστοσύνη. Στην περίπτωση του ελληνικού τραπεζικού συστήματος, η έννοια του Εσωτερικού Ελέγχου εισήχθη για πρώτη φορά την δεκαετία 1980, με την ίδρυση του «Ελληνικού Ινστιτούτου Εσωτερικού Ελέγχου». Πρωταρχικός διεξήχθη έρευνα μεταξύ υπαλλήλων που εργάζονται στις τέσσερις συστημικές τράπεζες της Ελλάδα, Εθνική Τράπεζα της Ελλάδος, Alpha Bank, Eurobank και Τράπεζα Πειραιώς. Σύμφωνα με τα αποτελέσματα, ο εσωτερικός έλεγχος συμβάλλει στην αποφυγή προβλημάτων και τον έλεγχο. Οι εκθέσεις διευκολύνουν τους υπαλλήλους και τα μέλη του Διοικητικού Συμβουλίου να επιλέγουν διαδικασίες που μειώνουν τον κίνδυνο οικονομικής απάτης. Επίσης, ο εσωτερικός έλεγχος ενισχύει την προσπάθεια της εταιρείας να επιτύχει τους στόχους και συμβάλλει στη συνεχιζόμενη διαδικασία παρακολούθησης. Όσον αφορά τον ρόλο του εσωτερικού ελέγχου πριν από τη συγχώνευση ή/και την εξαγορά, ο εσωτερικός έλεγχος εκτιμά το επίπεδο ακρίβειας των οικονομικών αποτελεσμάτων και για τις δύο εταιρείες και αξιολογεί εάν τα οικονομικά δεδομένα και των δύο εταιρειών οφείλουν τη συγχώνευση -απόκτηση. Όσον αφορά τον ρόλο του εσωτερικού ελέγχου μετά τη συγχώνευση ή/και την εξαγορά συμβάλλει στην εκπαίδευση των εργαζομένων έτσι ώστε να κατανοήσουν τα πρότυπα της εταιρείας και αναπτύσσει μηχανισμούς για τη διασφάλιση των νέων περιουσιακών στοιχείων της εταιρείας. Επίσης, προτείνει μηχανισμούς διαχείρισης για τη διασφάλιση των περιουσιακών στοιχείων της νέας εταιρείας. Όλα τα αποτελέσματα είναι σύμφωνα με την υπάρχουσα βιβλιογραφία για το θέμα. Και η έρευνα μπορεί να λειτουργήσει ως αναφορά για τους υπεύθυνους χάραξης πολιτικής.The present dissertation aimed at investigating the importance of internal audit in the case of banks, and more specifically in the case of mergers and acquisitions. Internal audit is a function which is necessary in the modern, changing environment. Through effective internal audit systems, banks can maintain stability and confidence. In the case of the Greek banking system, Internal Control concept was first introduced in the 1980s, with the foundation of the “Greek Institute of Internal Audit”. Primary research was conducted among employees working in the four systemic banks of Greece, National Bank of Greece, Alpha Bank, Eurobank and Piraeus Bank. According to results, the internal audit contributes to problems avoidance and audit reports facilitate the employees and the BoD members to select procedures that reduce the financial fraud risk. Also, Internal Audit strengthens the company’s attempt to achieve its targets and goals and contributes to the continuing monitoring procedure. As far as the role of Internal Audit before the merger and/or acquisition is concerned, internal audit estimates the level of the financial results accuracy for both companies and evaluates whether the financial data of both companies reasons the merger – acquisition. As far as the role of Internal Audit after the merger and/or acquisition is concerned, it contributes to training of employees so that they understand the company’s standards and develops mechanisms for the safeguarding of the new company’s assets. Also, it suggests to management mechanisms for the safeguarding new company’s assets. All results are in accordance with existing literature on the subject. And the research can act as a reference for policy makers

Responses of the Mediterranean seagrass Cymodocea nodosa to combined temperature and salinity stress at the ionomic, transcriptomic, ultrastructural and photosynthetic levels

Acknowledgements We are particularly grateful to David E. Salt and John M.C. Danku (University of Aberdeen, now at the University of Nottingham) for providing facilities and guidance for the ionomics work within the framework of this study. This research was funded by the European Commission (European Social Fund – ESF; grant no. 375425) and Greek national funds through the Operational Program “Education and Lifelong Learning” of the National Strategic Reference Framework (NSRF) - Research Funding Program: THALES - Investing in knowledge society through the European Social Funds (Project Acronym: MANTOLES). We would also like to thank the TOTAL Foundation (Project “Diversity of brown algae in the Eastern Mediterranean”), the European Commission under its Horizon 2021 Research and Innovation Programme (grants ZEROBRINE, grant agreement No. 730390, and WATERMINING, grant agreement No. 869474) and the UK Natural Environment Research Council for their Supplort to FCK (program Oceans 2025 – WP 4.5 and grants NE/D521522/1 and NE/J023094/1). The MASTS pooling initiative (Marine Alliance for Science and Technology for Scotland, funded by the Scottish Funding Council and contributing institutions; grant reference HR09011) is gratefully acknowledged.Peer reviewedPostprin

The new regulatory environment in the banking system. The importance of Basel III in preventing future crisis.

Διπλωματική εργασία--Πανεπιστήμιο Μακεδονίας, Θεσσαλονίκη, 2012.The G20 endorsed the new ‘Basel 3’ capital and liquidity requirements at their November 2010 Summit in Seoul. There are many areas of detail needing further development and worldwide debate and lobbying will inevitably continue - most notably in relation to the whole issue of systemically important financial institutions (SIFIs). The core principles, however, are set.The focus of attention is now shifting to implementation – progressing action on the business implications and planning for compliance. There are strong indications that the convergence in principle will become divergence in practice. Although the transitional period appears long, the 2019 deadline to complete implementation should not distract institutions from the need to demonstrate capital and liquidity resilience much sooner, and meet interim deadlines along the way. Despite a lack of absolute clarity, there is no time to waste. Experience from Basel 2 proved that early analysis, strategic evaluation and robust planning are all crucial to success. Firms must also remain flexible to adapt to subsequent changes and developments, with a number of other parallel policy initiatives being put in place, notably Recovery and Resolution Plans (RRPs), enhanced college of regulator arrangements and continuing uncertainty over tax. Changes in any of these will impact a Basel 3 response plan

Generalized Pearson distributions and related characterization problems

info:eu-repo/semantics/publishe

Generalized Pearson Distributions and Related Characterization Problems

Rodrigues' formula, generalized Pearson family of curves, orthogonal polynomials, covariance identity, characterizations,

Nitrogen Effects on the Essential Oil and Biomass Production of Field Grown Greek Oregano (Origanum vulgare subsp. hirtum) Populations

This study investigates the effect of different nitrogen fertilization levels on the agronomic traits of five Greek oregano populations. Nitrogen supply positively affected dry bio-mass production, with the highest accumulation recorded at 80 kg N ha−1 (N2), which was 59% higher compared to the control plots (no additional nitrogen). In contrast, the essential oil content (mL 100 g−1 DW) was reduced, with the control treatment showing a 15% higher value compared to the mean value of the nitrogen treatments. However, nitrogen supply positively affected the essential oil yield (L ha−1), and the highest value was recorded at 80 kg N ha−1, (N2), showing a 40% increase compared to the control. A wide phenotypic variation among the five populations was also observed. In the three-year analysis, the population with the highest dry biomass production was Papadates (92% higher), that with the highest essential oil content was Vytina (25% higher), and the highest essential oil yield was observed for Papadates and Litochoro (57% and 51% higher, respectively), compared to the least yielding population. Significant interactions were also found between nitrogen levels and populations, implying that, in all cases, nitrogen levels should be specified for each population in order to optimize oregano productivity in sustainable farming systems