Person:
Van Greuning, Hennie
Author Name Variants
Fields of Specialization
financial risk management; Islamic finance
Degrees
Departments
(Retired) Treasury Department, World Bank
Externally Hosted Work
Contact Information
Last updated
January 31, 2023
Biography
Hennie van Greuning retired from the World Bank in December 2009, having joined the organization in 1994 from the South African Reserve Bank where he had served as Head of South African Bank Supervision and CFO. A South African national, joined the Boards of FirstRand Banking Group, a listed company, in January 2009. He serves as Chairman of the Audit Committees of the Bank and the listed holding company and is a member of the Group Risk, Capital & Compliance Committee, as well as the ALCO and Operational Risk committees of the Bank. In March 2011 he was also invited onto the Board of Bank Islam Brunei Darussalam, the largest bank in Brunei – where he chairs the combined Audit and Risk committee. As part of the World Bank’s community outreach initiatives he taught a banking risk course for the George Washington University Master’s degree program in Finance, for three years and co-authored sections of the current CFA Institute materials. From 1991 – 1994 he was a Special Professor in Banking Law at the University of Johannesburg (RAU). His World Bank publication on International Financial Reporting Standards (IFRS – A Practical Guide) has appeared in six editions and he has co-authored “Analyzing Banking Risk” (three editions), “Risk Analysis for Islamic Banks”, as well as “International Financial Statement Analysis” (CFA Institute – November 2008). The books have been translated into as many as 15 languages.
Publication Search Results
1 - 7 of 7
-
Publication
Analyzing and Managing Banking Risk : A Framework for Assessing Corporate Governance and Financial Risk Management, Second Edition
(Washington, DC: World Bank, 2003-04)This publication aims to complement existing methodologies by establishing a comprehensive framework for the assessment of banks, not only by using financial data, but also by considering corporate governance. It argues that each of the key players in the corporate governance process (such as shareholders, directors, executive managers, and internal and external auditors) is responsible for some component of financial and operational risk management. Following a holistic overview of bank analysis in Chapter 2, the importance of banking supervision in the context of corporate governance is discussed in Chapter 3. This chapter also considers the partnership approach and the emerging framework for corporate governance and risk management, as well as the identification and allocation of tasks as part of the risk management process. The framework for risk management is further discussed in Chapters 4 through 11. -
Publication
Analyzing Banking Risk (4th Edition): A Framework for Assessing Corporate Governance and Risk Management
(Washington, DC: World Bank, 2020-06-08)This publication provides a comprehensive overview of topics focusing on assessment, analysis, and management of financial risks in banking. It emphasizes risk management principles and stresses that key players in the corporate governance process are accountable for managing the different dimensions of financial and other risks. This fourth edition remains faithful to the objectives of the original publication. The new business aspects affecting banking risks, such as mobile banking, and regulatory changes over the past decade—specifically those related to Basel III capital adequacy concepts—have been included, as have new operational risk management topics, such as cybercrime, money laundering, and outsourcing. This publication will be of interest to a wide body of users of bank financial data. The target audience includes the persons responsible for the analysis of banks and for the senior management or organizations directing their efforts. Because the publication provides an overview of the spectrum of corporate governance and risk management, it is not aimed at technical specialists of any particular risk management area. -
Publication
International Financial Reporting Standards : A Practical Guide, 5th Edition
(World Bank, 2009)The publication of this fifth edition coincides with the convergence in accounting standards that has been a feature of the international landscape since the global financial crisis of 1998. The events of that year prompted several international organizations, including the World Bank and the International Monetary Fund, to launch a cooperative initiative to strengthen the global financial architecture and to seek a longer-term solution to the lack of transparency in financial information. A conscious decision has been made to focus on the needs of executives and financial analysts in the private and public sectors who might not have a strong accounting background. This publication summarizes each standard so managers and analysts can quickly obtain a broad overview of the key issues. Detailed discussion of certain topics has been excluded to maintain the overall objective of providing a useful tool to managers and financial analysts. In addition to the short summaries, most chapters contain basic examples that emphasize the practical application of some key concepts in a particular standard. This text provides the tools to enable an executive without a technical accounting background to: (1) participate in an informed manner in discussions relating to the appropriateness or application of a particular standard in a given situation, and (2) evaluate the effect that the application of the principles of a given standard will have on the financial results and position of a division or of an entire enterprise. -
Publication
International Financial Reporting Standards : A Practical Guide, Sixth Edition
(World Bank, 2011-03-02)An acceptable coherent framework of fundamental accounting principles is essential for preparing financial statements. The major reasons for providing the framework are to: 1) identify the essential concepts underlying the preparation and presentation of financial statements; 2) guide standard setters in developing new accounting standards and reviewing existing standards; 3) assist preparers in preparing financial statements and dealing with topics that are not covered by a specific International Financial Reporting Standard (IFRS); 4) assist auditors in forming an opinion as to whether a set of financial statements conforms with IFRS; and 5) assist users in interpreting the financial information contained in a set of financial statements that comply with IFRS. The framework sets guidelines and should not be seen as a constitution; nothing in the framework overrides any specific standard. The objective of financial statements is to provide information about the financial position (statement of financial position), performance (statement of comprehensive income), and changes in financial position (statement of cash flows) of an entity that is useful to a wide range of users in making economic decisions. Users of financial information include present and potential capital providers, employees, lenders, suppliers, customers, and the government. Financial statements also show the results of management's stewardship of the resources entrusted to it. -
Publication
Analyzing Banking Risk : A Framework for Assessing Corporate Governance and Risk Management, Third Edition
(World Bank, 2009-04-01)This publication aims to complement existing methodologies by establishing a comprehensive framework for the assessment of banks, not only by using financial data, but also by considering corporate governance. It argues that each of the key players in the corporate governance process (such as shareholders, directors, executive managers, and internal and external auditors) is responsible for some component of financial and operational risk management. Following a holistic overview of bank analysis in chapter two, the importance of banking supervision in the context of corporate governance is discussed in chapter three. This chapter also considers the partnership approach and the emerging framework for corporate governance and risk management, as well as the identification and allocation of tasks as part of the risk management process. The framework for risk management is further discussed in chapters four through eleven. -
Publication
Risk Analysis for Islamic Banks
(Washington, DC: World Bank, 2008)This publication provides a comprehensive overview of topics related to the assessment, analysis, and management of various types of risks in the field of Islamic banking. It is an attempt to provide a high-level framework (aimed at non-specialist executives) attuned to the current realities of changing economies and Islamic financial markets. The Islamic financial system is not limited to banking; it also covers capital formation, capital markets, and all types of financial intermediation and risk transfer. Islamic finance was practiced predominantly in the Muslim world throughout the middle ages, fostering trade and business activities with the development of credit. The growth of Islamic finance coincided with the current account surpluses of oil-exporting Islamic countries. The Middle East saw a mushrooming of small commercial banks competing for surplus funds. The Islamic Republics of Iran, Pakistan, and Sudan announced their intention to make their financial systems compliant with Shariah. -
Publication
International Financial Reporting Standards : A Practical Guide, Newly Revised Edition
(Washington, DC: World Bank, 2005)In response to the global financial crisis in 1998, an initiative was launched to strengthen the global financial structure, and, although the International Accounting Standards (IAS) have been in existence for some time, it is believed such initiative will help promote transparency in financial reporting, and acceptance of its wide range of international best practices. This publication provides guidance, and summarizes each IAS, while each chapter contains a simple case study, emphasizing the practical application of key concepts in a particular standard. On how to use this publication, the authors created a template to facilitate discussion of each standard: 1) "problems addressed" identifies the main objectives, and key issues of the standard; 2) "scope of the standard" identifies specific transactions covered by a standard; 3) "accounting treatment" lists the specific accounting principles, bases, conventions, rules, and practices to be adopted for compliance with a particular standard; and, 4)"disclosure" describes the manner in which the financial, and non-financial items should be presented in financial statements, including aspects that should be disclosed in such financial statements.