Risk

des Entreprises implantées en Tunisie Deloitte en Tunisie : un acteur multidisciplinaire Audit et Enterprise Risk Services, Tax & Legal, Consulting, Financial Advisory, Integrated Services au service des sociétés du secteur publique et privé en Tunisie dans tous les secteurs d’activité • • • • • Financial statement audits Accounting advisory Assurance services Governance, regulatory & risk Controls transformation & assurance • Security, privacy & resiliency • Corporate tax (transfer pricing, indirect

DIAGNOSIS The importance of risk evaluation, either at an individual or a collective level, was stressed by the numerous risky situations with which we are daily confronted in personal, occupational and social life. Risk evaluation becomes very difficult because of the extreme diversity of risky situations as well as because of differences of diverse orders identifiable in the evaluation of the consequences of risk. Because it is impossible to have a satisfactory definition of risk, the present article

l'information vivante qui a des conséquences pour une psychologie sociale du risque. Dernièrement, les questions relatives à la surestimation de certains risques et la sous-estimation d'autres ont été l'objet de recherches au sein de la Social Amplification of Risk Framework (Sarf) (Kasperson, Kasperson, Pidgeon, et Slovic, 2003) dans le but de combiner les aspects relatifs à la perception du risque et ceux du champ communicationnel autour du risque. L'« amplification » désigne une implication forte tandis que

Michel Dabadie (Inspecteur Général, Banque de France) ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ 13.50 – 14.20   Etat des lieux et enjeux de la  gestion des Risques en Finance Islamique Anouar Hassoune (Vice Président Moody’s) Adel Harzi (Risk manager ‐ DEXIA)  ----------------------------------------------------------------------17.20 – 17.30 2éme Presentation SI ----------------------------------------------------------------------17.30 – 18.10 Les banques islamiques à l’heure  des exigences réglementaires

Chain Risk Management Dans cette édition, nous nous pencherons en détail sur le thème du supply chain risk management et vous démontrerons comment Aon peut vous aider à maîtriser ces risques. Depuis des années, les dommages liés aux pertes d’exploitation et dysfonctionnements de la chaîne d’approvisionnement font partie des risques les plus importants et se trouvent tout en haut de la liste des préoccupations de la plupart des risk managers. Aon interroge régulièrement les risk managers

specification and measurement problems. We conclude that, most likely, an equilibrium model which is not an Arrow-Debreu economy will be the one that Simultaneously rationalizes both historically observed large average equity return and the small average risk-free return. 1. Introduction H i s t o r i c a l l y the average r e t u r n o n equity has far exceeded the average r e t u r n o n s h o r t - t e r m virtually default-free debt. Over the n i n e t y - y e a r p e r i o d 1889-1978 the a v e

international * Ct vente inter = accords contractuels entre les partis. Obligations.régit par convention de vienne + incoterm * Incoterm : crée par CC internationale, 11 en 2010. Responsabilité, documentation des partis, transfert de risk et frais. * Proforma : base de l’offre commerciale, matérialise. * CGVD : précautions du vendeur vers l’acheteur. A signer par l’acheteur. * Offre commerciale : base du ct international, doit être ferme, claire, non ambiguë

defense by eliminating public investors • Disadvantages include the following: – High fixed costs of debt, – Vulnerability to business cycle fluctuations and competitor actions, – Not appropriate for firms with high growth prospects or high business risk, and – Potential difficulties in raising capital. Classic LBO Models: Late 1970s and Early 1980s • Debt normally 4 to 5 times equity. Debt amortized over no more than 10 years. • Existing corporate management encouraged to participate. • Complex

indications we will direct ourselves towards China concerning the Asia continent, Brazil relating to South America and South concerning the Africa. The figure below has motivated our choice. [Grant Thornton IBR, 2010] Market attractiveness and Risk Analyses CHINA The 1st exporter and second importer in the world The Chinese economy recorded a growth rate by 9, 8% at the fourth quarters 2010, against 9, and 6% with the third quarters. Hence the GDP rose by 10, 3% during the year, against 9,

manage efficiently operational risk, given the multiple dangers and threats they have to face now? How can they answer successfully to the new constraints arising from supervisors while preserving their future profitability? These two questions are the most challenging issues related to operational risk, and they can impact on the future banks' ability to manage this type of risk. Although operational risk is known from a long time ago -such as frauds for example- this risk is effectively managed in banks