Open Access#12013
The value in using IT-directed investor relationship management
The International Organization for Standardization's ISO 31000:2009 standard reconceptualised the term 'risk' for all operations concerned with risk management. In this standard, risk is no longer defined as chance or probability of loss but as 'the effect of uncertainty on objectives.' Consistently, Basel III and Capital Requirements Directive (CRD) IV, the European Union's Solvency II Directive 2009/138/ EC, the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) have all recommended the expected loss (EL) approach (amongst others) for risk capitalisation. ; peer-reviewed
