Arnold Schilder: Accounting standards, transparency and supervision Speech by Professor Arnold Schilder, Executive Director of De Nederlandsche Bank NV, Board Member of the Pensions and Insurance Supervisory Authority of the Netherlands, and Chairman of the Accounting Task Force of the Basel Committee on Banking Supervision, at the congress EYe on Banking, sponsored by Ernst & Young, in Utrecht, 6 November 2002.
Page 2 of 13  Consequently, the SAA process also contains an important qualitative assessment, which can result in a portfolio construction that sits below the efficient frontier but which can efficiently be invested in – and which reflects practical considerations.