That is one of the reasons that in the United States we are proposing to require only the largest, most sophisticated financial institutions to adopt Basel II - and only the advanced approaches. These institutions recognize that complex operations require a more-structured and well-defined risk-management framework to monitor the effectiveness of internal control processes and risk exposures.
“Lucky are those who know the limits of their knowledge and wish to broaden their horizons” for they are the ones who will make the best use of this brochure. BIS Review 117/2007  1