Credit spreads and monetary policy in a small open economy: an analysis of the colombian economy

This paper estimates Bejarano and Charry (2014)’s small open economy with financial frictions model for the Colombian economy using Bayesian estimation techniques. Additionally, I compute the welfare gains of implementing an optimal response to credit spreads into an augmented Taylor rule. The main result is that a reaction to credit spreads does not imply significant welfare gains unless the economic disturbances increases its volatility, like the disruption implied by a financial crisis. Otherwise its impact over the macroeconomic variables is null.

The significant role of third-party logistics (3pl) operators as fosterers of organizational performance in colombian companies

La eliminación de barreras entre países es una consecuencia que llega con la globalización y con los acuerdos de TLC firmados en los últimos años. Esto implica un crecimiento significativo del comercio exterior, lo cual se ve reflejado en un aumento de la complejidad de la cadena de suministro de las empresas. Debido a lo anterior, se hace necesaria la búsqueda de alternativas para obtener altos niveles de productividad y competitividad dentro de las empresas en Colombia, ya que el entorno se ha vuelto cada vez más complejo, saturado de competencia no sólo nacional, sino también internacional. Para mantenerse en una posición competitiva favorable, las compañías deben enfocarse en las actividades que le agregan valor a su negocio, por lo cual una de las alternativas que se están adoptando hoy en día es la tercerización de funciones logísticas a empresas especializadas en el manejo de estos servicios. Tales empresas son los Proveedores de servicios logísticos (LSP), quienes actúan como agentes externos a la organización al gestionar, controlar y proporcionar actividades logísticas en nombre de un contratante. Las actividades realizadas pueden incluir todas o parte de las actividades logísticas, pero como mínimo la gestión y ejecución del transporte y almacenamiento deben estar incluidos (Berglund, 2000). El propósito del documento es analizar el papel de los Operadores Logísticos de Tercer nivel (3PL) como promotores del desempeño organizacional en las empresas colombianas, con el fin de informar a las MIPYMES acerca de los beneficios que se obtienen al trabajar con LSP como un medio para mejorar la posición competitiva del país.

Auditoria da gestão pública: diferenças de expectativas, qualidade e satisfação nas autarquias locais

O presente estudo baseou-se na avaliação dos factores mais influentes na percepção da qualidade da auditoria e satisfação dos Directores dos Serviços Financeiros das Autarquias Locais Portuguesas sujeitas a Certificação Legal de Contas. Aferir se existiam opiniões divergentes por região administrativa foi outro objectivo a que nos propusemos. Os resultados da pesquisa demonstram que os factores mais influentes são a especialização, o planeamento e trabalho de campo da empresa de auditoria. A percepção da qualidade de auditoria por Distrito/Região revela-se homogénea, ao invés da satisfação em relação à actividade de auditoria. Tendo em conta os resultados obtidos, a auditoria deverá equacionar o alargamento do seu campo de actuação, reorientar o seu papel, reforçar a comunicação e especialização no sector, por forma a potenciar a responsabilização, avaliação e apoio na tomada de decisão na gestão dos dinheiros públicos e, por outro lado, harmonizar as expectactivas entre auditado e auditor. /ABSTRACT: The present study was based on the assessment of the most influential factors in the perception of audit quality and satisfaction of the Directors of Financial Services of Portuguese Local Government subject to the Statutory Auditors. To assess whether there were differing opinions by administrative region was another goal we set ourselves. The survey results demonstrate that the most influential factors are the expertise, the planning and fieldwork of the audit firm. The perception of audit quality by District I Region proves to be homogeneous, rather than satisfaction with the audit work. Given the results, the audit should consider extending its scope to act, to reorient their role, to strengthen the communication and expertise in the sector in order to enhance accountability, assessment and support in decision making in the management of public resources and, secondly, to harmonize expectations between auditee and auditor.

L'esenzione IVA di fronte alla scomposizione dei servizi finanziari - Il caso dei servizi di pagamento e dei consorzi bancari nell'esperienza italiana e nella giurisprudenza UE

La scomposizione dei servizi finanziari rappresenta un processo in essere da diverso tempo, che tuttavia ha subito una significativa accelerazione negli ultimi anni, a causa di alcuni fattori, tra cui l’incremento degli scambi commerciali conseguente alla globalizzazione, la crescente finanziarizzazione dell’economia e, da ultimo, l’avvento di Internet, che ha progressivamente cannibalizzato i canali tradizionali del commercio e della finanza. In questo contesto hanno assunto un rilievo crescente, da un lato, la concentrazione degli intermediari finanziari, i quali, aumentando le proprie dimensioni, mirano a beneficiare dei rendimenti di scala crescenti tipici del settore in cui operano, dall’altro, la specializzazione degli operatori, anche non finanziari, che, al fine di aumentare la propria efficienza e diminuire i costi di produzione, si focalizzano su singoli processi o sottoprocessi dei servizi finanziari tradizionali, talvolta innovandoli o creandoli ex novo allo scopo di conquistare quote di mercato. Di fronte a tutto ciò, l’applicazione dell’esenzione IVA rappresenta una sfida per gli interpreti del diritto, in quanto, derogando al principio cardine della neutralità dell’IVA, può divenire o costituire già ora un fattore distorsivo del mercato, alterando la parità di condizioni in cui dovrebbero operare gli intermediari finanziari ed influenzando le scelte organizzative dei medesimi, a discapito dell’efficienza cui dovrebbero fisiologicamente tendere in condizioni di libera concorrenza.

Industrial Demilitarized Zone and Zero Trust cybersecurity models for Industrial Control Systems

Today more than ever, with the recent war in Ukraine and the increasing number of attacks that affect systems of nations and companies every day, the world realizes that cybersecurity can no longer be considered just as a “cost”. It must become a pillar for our infrastructures that involve the security of our nations and the safety of people. Critical infrastructure, like energy, financial services, and healthcare, have become targets of many cyberattacks from several criminal groups, with an increasing number of resources and competencies, putting at risk the security and safety of companies and entire nations. This thesis aims to investigate the state-of-the-art regarding the best practice for securing Industrial control systems. We study the differences between two security frameworks. The first is Industrial Demilitarized Zone (I-DMZ), a perimeter-based security solution. The second one is the Zero Trust Architecture (ZTA) which removes the concept of perimeter to offer an entirely new approach to cybersecurity based on the slogan ‘Never Trust, always verify’. Starting from this premise, the Zero Trust model embeds strict Authentication, Authorization, and monitoring controls for any access to any resource. We have defined two architectures according to the State-of-the-art and the cybersecurity experts’ guidelines to compare I-DMZ, and Zero Trust approaches to ICS security. The goal is to demonstrate how a Zero Trust approach dramatically reduces the possibility of an attacker penetrating the network or moving laterally to compromise the entire infrastructure. A third architecture has been defined based on Cloud and fog/edge computing technology. It shows how Cloud solutions can improve the security and reliability of infrastructure and production processes that can benefit from a range of new functionalities, that the Cloud could offer as-a-Service.We have implemented and tested our Zero Trust solution and its ability to block intrusion or attempted attacks.

Iowa Department of Human Services - Case Management Unit, Independent Auditor's Reports Basic Financial Statements and Supplementary Information, June 30, 2003

State Agency Audit Report

Dormitory and Dining Services Revenue Bond Funds, Iowa State University of Science and Technology, Independent Auditor's Report Financial Statements and Supplemental Information, June 30, 2004

State University Audit Report

North Iowa Juvenile Detention Services Commission, Independent Auditor's Reports, Financial Statement and Required Supplementary Information, Schedule of Findings, June 30, 2004

Other Audit Reports - 28E Organizations

Iowa Department of Human Services - Case Management Unit, Independent Auditor's Reports, Basic Financial Statements and Supplementary Information, June 30, 2004

State Agency Audit Report

5B Judicial District Youth Services, Independent Auditor's Reports, Basic Financial Statements, Schedule of Findings, Eight Months ended February 28, 2005 and Year ended June 30, 2004

Other Audit Reports - 28E Organizations

5B Judicial District Youth Services, Independent Auditor's Reports, Basic Financial Statements, Schedule of Findings, Eight months ended February 28, 2005 and Year Ended June 30, 2004

Other Audit Reports - 28E Organizations

Dormitory and Dining Services Revenue Bond Funds, Iowa State University of Science and Technology, Independent Auditor's Reports, Financial Statements and Supplemental Information, June 30, 2005

State University Audit Report

North Iowa Juvenile Detention Services Commission, Independent Auditor's Reports, Financial Statement and Required Supplementary Information, Schedule of Findings, June 30, 2005

Other Audit Reports - 28E Organizations

Iowa Department of Human Services - Case Management Unit, Independent Auditor's Reports, Basic Financial Statements and Supplementary Information, June 30, 2005

State Audit Reports

Dormitory and Dining Services Revenue Bond Funds, Iowa State University of Science and Technology, Independent Auditor's Report, Basic Financial Statements and Supplementary Information, June 30, 2006

State University Audit Report