KEN CLARKE
Internal Audit & Risk Advisory
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It is not what you see and know that is the problem. It is what you don't see or know that is the problem.
“Not taking risks one doesn't understand is often the best form of risk management.” ― Raghuram G. Rajan, Fault Lines: How Hidden Fractures Still Threaten the World Economy IAS's end-to-end solutions identifies and controls your unknowns. |
TERENCE YHIP
PhD Economics
Tim Boucher
Forensic Accounting & Auditing
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Toshiba's accounting scandal was a case of internal audit failure. The 140-year-old pillar of Japan Inc was caught up in the country's biggest accounting scandal. In July 2015, Toshiba Corp president Hisao Tanaka quit after investigators found that the company inflated earnings by at least $1.2 billion during the period 2009-2014.
IAS provides advice on preventing scandals and remediation of accounting crisis. |
BING WANG
Model Risk
Model risk is the risk of loss resulting from using insufficiently accurate models to make decisions, originally and frequently in the context of valuing financial securities.
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“Security is mostly a superstition. Life is either a daring adventure or nothing.” — Helen Keller
“Only those who will risk going too far can possibly find out how far it is possible to go.” — T.S. Eliot “A man would do nothing, if he waited until he could do it so well that no one would find fault with what he has done.” — Cardinal Newman IAS provides the PhD expertise to address model risk. |
DAVID McINTOSH
Market Risk
Market Risk
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The investment bank Morgan Stabley has blamed the errant actions of a single trading team for losses of $9.4bn (£4.68bn) on the global credit crunch – a figure which prompted an apology from its chief executive.
“Test fast, fail fast, adjust fast.” — Tom Peters IAS assesses market risk from all positions. |
BILL SHEK
Accounting & Financial Management
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The first accountants in history are thought to have come from ancient Mesopotamia. They worked for the temples, keeping track of taxes paid in sheep and agricultural produce for the religious authorities of the day. In the process, many historians believe they invented the practice of writing in order to keep receipts.
IAS may not have created accounting but we sure understand it. |
Michael Camillieri
FX
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In his autobiography Rogue Trader, Nick Leeson said the ethos at Barings was simple: ‘We were all driven to make profits, profits, and more profits ... I was the rising star.’ Leeson did make Barings vast sums. In 1993, he made £10m - 10% of the bank’s profits for that year. But in 1995, the discovery of a secret file - Error Account 88888 - showed that Leeson had gambled away £827m in Barings’s name. The City’s oldest merchant bank was finished.
Source: The Guardian IAS can find your Error Account 88888. |
Augustin Herera
Enterprise Risk
Chris Caldwell
CSR
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"Corporate social responsibility is a hard-edged business decision. Not because it is a nice thing to do or because people are forcing us to do it... because it is good for our business"
Niall Fitzerald, Former CEO, Unilever "Leadership and sustainability are at the forefront of global organizational development, training and education." Chris Caldwell. IAS's 10 commandments of Corporate Social Responsibility is the foundation of good business practice. 
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