An easy way to reduce market losses.
I am an internal auditor. Some systems require annual external audits that are not certifying and some systems allow 2 internal audits meeting the same criteria and one 1 external audit on a 3 year cycle. These audits provide metrics and a common baseline and would be a reasonable stance to be agreed on. I get where companies are coming from in that they want to present their business to potential investors in as positive a manner as possible but with bubbles of over 50% de-valuation, as an investor I would want this in place.
This means, for me, lower risk for more constant returns and investment in US companies only if they are multinational and subject to mandated external financial audits. As an internal auditor, I know it's easy to loose track of time and/or be sloppy with review because you "know" things. Also there is not guarantee the internal audit has the same metrics as the external auditing system.
http://www.cbc.ca/amp/1.4367685
I live in a small Canadian Prairie city with a spouse and a dog. We retired in 2018. This is what life is like.
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Does Canada have a version of FASB? It's always been my guide for compliance.
ReplyDeleteen.wikipedia.org - Financial Accounting Standards Board - Wikipedia
Probably?
ReplyDeleteCass Morrison I am not an accountant but I have a guy who handles that part of the practice. Lots of what we do is tying out to external auditing systems.
ReplyDeleteaicpa.org - Clarified Statements on Auditing Standards - AICPA