Date post: | 13-Dec-2015 |
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Speech on behalf of Datev and URA Rating Agency®
The URA Rating Agency is convinced that the accountant will be the most importantplayer within the rating industry in the near future. Because only an independent andneutral intermediary such as an accountant is able to deliver the quality of the data that banks and CAI’s (credit assessment institutions) need to produce a reliablerating within a transparent rating process.
ExternalFinancialReporting
BusinessOperations
InternalFinancialReporting
InvestmentLending,Regulation
Processes
Participants
AuditorsTradingPartners
BanksFinancialPublishersand CAI’s
Regulators
Software Vendors
ManagementAccountants
Companies
Economic Policymaking
XBRLXBRLXBRL XBRL
CentralBanks
Company
Banks
PR internal external
Management
Buyers
Suppliers
Capital market
Information Insurance
Credit conditions
PurchasingParticipations
intangible assets working capital
Access capital market and private equity
Risk and performance management
Marketing purposes
Asset management
Credit scoring
Supplier ratings Buyers cooperative
The influence of Basel II on companies
AccountantClient BankValue chain
Client Bank
AccountantClient BankValue chain
AccountantClient BankIntermediaryValue chain
Credit applications against lowest costs integrated with the front offices of the
banks (term sheets execution etc.)
Bank
Intermediary or accountant
Alternatives:
•Grants
•Private Equity
• Mezzanine
Mediation:
• Other kind of loan
• Other bank
• Risk PD / LGD
• Monitoring
• Credit advice
Accountant
Client URA Rating factory
Value chainFinancial advisor
Bank
assessed XBRL reports
unassessed XBRL raports
Summarizing:◦ Together with local players Datev /URA is able to reduce
considerable regulatory burden and processing cost.◦ Improvement of the quality of the data by means of
several assessment techniques like: Data level assessments Process controlls Quality level agreements of the XBRL reports Reference ratings according to world class standards