The Columbia Business School and the privately operating Charles & Agnes Kazarian Foundation are collaborating on a sovereign risk initiative to improve public financial management and the analysis of sovereign risks.
The initiative recognises the importance of analysing consolidated financial statements prepared in accordance with international public sector accounting standards (IPSAS), audit standards and best practices in public financial management.
It consists of four pillars; the development of business school case studies, the creation of multi-disciplinary professional publications, the launch of MBA coursework focused on analysing government financial statement, and convening a public symposium of thought leaders.
The initiative will be overseen by the Roy Bernard Kester and T.W. Byrnes professor of accounting and auditing Shivaram Rajgopal.
"Columbia Business School is excited to be the pioneer in this new field of assessing sovereign risk using financial statements and to extend our core competency as an international leader in the sectors of accounting and value investing," Rajgopal said.