"In the long run managements stressing accounting appearance over economic substance usually achieve little of either.”
― Warren Buffett
IaS performs or provides support to organizations with their complex accounting and financial reporting needs. The regulatory environment has become much more complex with many changes to accounting standards, guidelines and IFRS requirements.
“Basically, financial reporting is this sinking hole at the centre of journalism. You start by swimming around it until finally, reluctantly, you can't fight the pull anymore and you get sucked down the drain.”
― Tom Rachman, The Imperfectionists
IaS provides specialized expertise on IFRS to organizations related to first-time adoption, reporting and technical issues. We have a team of chartered professional accountants with extensive theoretical and practical experience in financial reporting under various accounting frameworks, including - IFRS, Canadian GAAP and US GAAP.
Our experts provide guidance on IFRS and accounting standards to boards and audit committees, executive management, CFOs, accountants and auditors.
“ERM without taking into consideration the links to organizational culture, the governance framework and strategic objectives is just another process that will not achieve its true value. Implementation without integration is a major risk within itself.” Paul Wallis IaS
IaS can help organizations as follows:
. Identify and assess material risks;
. Evaluate the effectiveness of risk culture, conduct, governance, risk and compliance;
. Evaluate risk responsiveness to strategic, operational, financial and compliance risks;
. Develop a Risk Appetite Framework;
. Align risk strategy with corporate strategy; and
. Create risk monitoring tools to manage and report on changing risks
“Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months.”
– Irving Fisher, Ph.D. in economics, Oct. 17, 1929
IaS has experience in all markets. Don't lose it all.
Let's recognize that this is a once-in-a-half-century, probably once-in-a-century type of event. And indeed we shouldn't try to protect every single institution. The ordinary course of financial change has winners and losers.
- ALAN GREENSPAN, FORMER US FEDERAL RESERVE BOSS
The IaS team saw Lehman Brothers' demise coming and took action.