Confidence Accounting is a proposal to use distributions, rather than discrete values, where appropriate in auditing and accounting. In a world of Confidence Accounting, the end results of audits would be presentations of distributions for major entries in the profit & loss, balance sheet and...

The top eight centres in GFCI 3 have maintained the same rankings as in GFCI 2. GFCI 3 shows again that London and New York are the two leading global financial centres, some 90 points ahead of the next two centres. Singapore (ranked number 4) is gaining slightly on Hong Kong (ranked number 3),...

GFCI 2 shows similar findings to GFCI 1, with London edging slightly further ahead of New York. London is seen as remaining foremost in all areas of competitiveness – people, business environment, market access, infrastructure and general competitiveness

Public sector entities devote a tremendous amount of time to avoiding risk, especially political risk. It feels far safer to spend a large number of small sums of money on ten different studies, rather than solve one problem for the same cost. If a political problem arises, then the response...

The Not-for-Profit sector is a significant part of the economy. Not-for-Profit sector organisations have a duty to their stakeholders to provide evidence that they are using resources well. The authors have a few decades of Not-for-Profit client work and have conducted some original research...

The use of a deterministic numeric paradigm in auditing and accounting may well be the root cause of many current problems. This paper argues that risk-based accounting methods should start using probabilistic inputs which would show resultant distributions as output. “Stochastic accounting”...

Suppliers increasingly find themselves required to put in competitive tenders in order to win business; especially public sector contracts. Indeed, large organisations of all kinds, including NGOs, increasingly require their suppliers to go through structured tendering processes. But often those...